M&S released its FY21/22 results with both revenue and adjusted pre-tax profit slightly above expectations.
However, the end of business rates relief, the full exit from the Russian business and a minimal contribution from Ocado has seen the group start FY22/23 with a lower profit base.
The group expects intensified cost pressure and the inflationary environment to result in very challenging trading conditions for the year ahead.

25 May 2022
Improved business shape, cloudy outlook

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Improved business shape, cloudy outlook
Marks and Spencer Group plc (MKS:LON) | 188 0 0.0% | Mkt Cap: 3,704m
- Published:
25 May 2022 -
Author:
Jie Zhang -
Pages:
4 -
M&S released its FY21/22 results with both revenue and adjusted pre-tax profit slightly above expectations.
However, the end of business rates relief, the full exit from the Russian business and a minimal contribution from Ocado has seen the group start FY22/23 with a lower profit base.
The group expects intensified cost pressure and the inflationary environment to result in very challenging trading conditions for the year ahead.