Marks & Spencers set to show pofits rise
M&S, which reports on Wednesday, is expected to have increased underlying pre-tax profits 4 per cent to £648 million, and may herald special dividends or share buybacks.
A share buyback, the first at the high street giant since 2007, would increase the value of the fewer shares remaining in circulation.
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Hide AdAnalysts believe the company’s better financial position, given better profits and falling debts and capital spending, mean there is scope for it to hand £250 million to shareholders.
Bolland marks his fifth year at the M&S helm this summer, but progress back to rising profitability and like-for-like sales has been slow, revenues falling for 14 consecutive quarters.