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Clothing and food retailer Marks & Spencer swung to a first-half profit after demand recovered following an easing of Covid-19 lockdowns.
Pre-tax profit for the six months through September amounted to £187.3 million, compared to a year-on-year loss of £87.6 million and above a profit two years' earlier of £158.8 million.
Revenue jumped 25% to £5.11 billion and was up 5% on the period two years' prior, before the pandemic hit.
Marks & Spencer, however, refrained from declaring an interim dividend as it continued to try and turnaround its performance.
'Given the history of M&S we've been clear that we won't overclaim our progress,' chief executive Steve Rowe said.
'Unpacking the numbers isn't a linear exercise and we've called out the Covid bounce back tailwinds, as well as the headwinds from the pandemic, supply chain and Brexit, some of which will continue into next year.'
'But, thanks to the hard work of our colleagues, it is clear that underlying performance is improving, with our main businesses making important gains in market share and customer perception.'
'The hard yards of driving long term change are beginning to be borne out in our performance.'