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| Marks and Spencer reports rise in profits | Marks and Spencer reports rise in profits |
| (36 minutes later) | |
| High Street retail giant Marks and Spencer has reported a rise in full-year profits, saying it made "good progress" during the year. | High Street retail giant Marks and Spencer has reported a rise in full-year profits, saying it made "good progress" during the year. |
| M&S said underlying profit before tax rose 6.1% to £661.2m for the year to 28 March. | M&S said underlying profit before tax rose 6.1% to £661.2m for the year to 28 March. |
| Its food business had an "outstanding year", the company said, but sales of general merchandise - which includes clothing - were below expectations. | Its food business had an "outstanding year", the company said, but sales of general merchandise - which includes clothing - were below expectations. |
| However, sales of womenswear rose in the final quarter. | However, sales of womenswear rose in the final quarter. |
| This is the company's first rise in profit in four years. | |
| Chief executive Marc Bolland told the BBC's Today Programme that the improved results came despite the most difficult retail market in 15 years. | |
| He also said that the company was confident in the strength of its clothing. | |
| "We've never had more design capability," Mr Bolland said. | |
| M&S also raised its dividend by 5.9% and began its first stock buyback program. |