Welcome to M&S
24 May 2017
52 weeks ended
1 Apr 17
53 weeks ended
2 Apr 16
Change on 53 weeks LY %
Change on 52 weeks LY %
Profit before tax & adjusted items1
Profit before tax
Profit after tax
Adjusted basic earnings per share1
Basic earnings per share
Free cashflow pre shareholder returns
Ordinary dividend per share
1Adjusted results are consistent with how business performance is measured internally. 2Refer to adjusted items table below for further details. See glossary for definitions
The financial year 2016/17 was a 52 week year whereas 2015/16 was a 53 week year. Unless otherwise stated, in order to provide a year on year comparison, variances relating to revenue, profit and earnings per share are on a 52 week comparative to 26 March 2016.
Steve Rowe, Marks & Spencer CEO said:
“Last year we outlined a comprehensive plan to build strong foundations for the future. We said we would recover and grow clothing and home, continue with our plans for Food growth, remove costs and simplify the business. We achieved a huge amount in the year and whilst there is still much to do, I am pleased with our progress and we remain on track.
“As we have made improvements to our Clothing & Home product and proposition, our customers have noticed; we are starting to stabilise market share and importantly have seen full price market share growth, as we removed excessive discounting. In addition, our new Food stores continue to exceed our expectations.
“As we anticipated, the planned restructuring of M&S has come with a cost and has impacted profits, but the business is still strongly cash generative and we reduced our net debt.
“Looking ahead, we will continue our programme of self-help in a tough trading environment. We remain committed to delivering for our customers and shareholders as we build sustainable foundations for the future.”
Robert Swannell, Marks & Spencer Chairman said:
“This has been a year of accelerated change at M&S, as Steve set out his plan for a simpler business, focused on customers. We believe these actions will make M&S a stronger, sustainable business. We are maintaining a total dividend per share at 18.7p, the same level as last year, taking into account the strong cash generation of the business.”