Mark and Spencer
press release
Issued: 22nd May 2012
MARKS AND SPENCER GROUP PLC FULL YEAR RESULTS 2011/12 - 52 WEEKS ENDED 31 MARCH 2012 Marks & Spencer performed well in a challenging economic environment and made good progress in delivering our strategy
Final results: • • • • • • • • • Group sales up 2.0% at £9.9bn Total UK sales +1.5%: Food +3.9%; General Merchandise -0.9% (Clothing +0.2%, Home -10.0%) Like-for-like UK sales +0.3%: Food +2.1%; General Merchandise -1.8% International sales +5.8% Multi-channel sales +18% Underlying profit before tax1 £705.9m (last year £714.3m) Underlying basic earnings per share1 34.9p (last year 34.8p) Full year dividend 17.0p per share (last year 17.0p) Net debt £1.86bn (last year £1.90bn)
Statutory results: • • Profit before tax £658.0m (last year £780.6m) Basic earnings per share 32.5p (last year 38.8p)
Marc Bolland, Chief Executive, said: “Marks & Spencer performed well in a challenging economic environment, growing group sales by 2% and holding market share. We also made good progress with our strategic plans. “We managed the business prudently with tight control of costs and capital investment, delivering earnings in line with last year, and substantial efficiency savings in our capital investment plans.
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“Whilst the economic environment has deteriorated since we first set out our strategic plans, we have made significant progress. Our UK pilot stores are delivering good results, which has given us the confidence to launch phase two of the programme. We are well on track to become a truly international multi-channel retailer. By the end of this year we will be transacting from 10 websites worldwide and opening around 100 international stores per year.” Robert Swannell, Chairman said: “We have a clear strategy for the business. We remain focused on delivering this strategy effectively and efficiently. “In line with the dividend policy set out last year, the Board is recommending a final dividend of 10.8p per share,
Issued: 22nd May 2012
MARKS AND SPENCER GROUP PLC FULL YEAR RESULTS 2011/12 - 52 WEEKS ENDED 31 MARCH 2012 Marks & Spencer performed well in a challenging economic environment and made good progress in delivering our strategy
Final results: • • • • • • • • • Group sales up 2.0% at £9.9bn Total UK sales +1.5%: Food +3.9%; General Merchandise -0.9% (Clothing +0.2%, Home -10.0%) Like-for-like UK sales +0.3%: Food +2.1%; General Merchandise -1.8% International sales +5.8% Multi-channel sales +18% Underlying profit before tax1 £705.9m (last year £714.3m) Underlying basic earnings per share1 34.9p (last year 34.8p) Full year dividend 17.0p per share (last year 17.0p) Net debt £1.86bn (last year £1.90bn)
Statutory results: • • Profit before tax £658.0m (last year £780.6m) Basic earnings per share 32.5p (last year 38.8p)
Marc Bolland, Chief Executive, said: “Marks & Spencer performed well in a challenging economic environment, growing group sales by 2% and holding market share. We also made good progress with our strategic plans. “We managed the business prudently with tight control of costs and capital investment, delivering earnings in line with last year, and substantial efficiency savings in our capital investment plans.
1
“Whilst the economic environment has deteriorated since we first set out our strategic plans, we have made significant progress. Our UK pilot stores are delivering good results, which has given us the confidence to launch phase two of the programme. We are well on track to become a truly international multi-channel retailer. By the end of this year we will be transacting from 10 websites worldwide and opening around 100 international stores per year.” Robert Swannell, Chairman said: “We have a clear strategy for the business. We remain focused on delivering this strategy effectively and efficiently. “In line with the dividend policy set out last year, the Board is recommending a final dividend of 10.8p per share,