While initially these look like in-line results with a few minor encouragements in terms of stability in the food business we note the £486m of non-recurring costs after £97m in 1H and last year’s £514m. That makes £1bn of non-recurring costs over two years and £1.6bn over four years. We understand that big changes are underway but it is difficult to establish the true underlying position with this amount of displacement of costs into non-recurring categori
22 May 2019
Prelims | Low quality results
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Prelims | Low quality results
Marks and Spencer Group plc (MKS:LON) | 266 1.1 0.2% | Mkt Cap: 5,410m
- Published:
22 May 2019 -
Author:
Tony Shiret -
Pages:
3
While initially these look like in-line results with a few minor encouragements in terms of stability in the food business we note the £486m of non-recurring costs after £97m in 1H and last year’s £514m. That makes £1bn of non-recurring costs over two years and £1.6bn over four years. We understand that big changes are underway but it is difficult to establish the true underlying position with this amount of displacement of costs into non-recurring categori