The Marks & Spencer Board have announced an interim dividend of 3.9p per ordinary share. This will be paid on 10 January 2020 to shareholders on the register of members as at close of business on 15 November 2019.
Other financial highlights include:
Profit before tax & adjusting items down 17.1%, after weak first half Clothing & Home sales
Profit before tax up 51.5% at £153.5m, due to lower net adjusting items in the period compared to prior year
Food like-for-like sales growth 0.9% driven by volume. Gross margin rate slightly down, reflecting investment in trusted value
Clothing & Home like-for-like sales down 5.5%, reflecting first half shape of buy and supply chain issues
Free cash flow before adjusting items of £91.9m affected by timing of working capital and tax payments, partly expected to reverse in the second half
Net debt of £4.13bn, down 3.7% largely due to cash generation over the past year
