Stuart Rose, chief executive of Marks and Spencer (M&S), has described an 11.5 per cent hike in half-year profits as "good" in view of the poor summer weather.
Rose, who continues to backtrack from his “weather is for wimps” remark earlier this year, reported an adjusted pre-tax profit of £452 million for the six months to September 29, up from £405m a year ago. Total sales for the half-year were £4.2bn, a 6.5 per cent year-on-year rise.
The chief executive did, however, add a note of caution - saying that the short term UK retail outlook "remains uncertain".
"We had a good first half despite a tough market impacted by unseasonable trading conditions, and at a time when many of our stores were undergoing major refurbishment," said Rose.
"Whilst the short term economic outlook remains uncertain, the actions we have taken to reposition and revitalise M&S over the last three years put us in a good position to continue to outperform and give us confidence in the long term growth prospects of the business."
