(Il Sole 24 Ore Radiocor) - Milano, 20 mag - UK retailer Marks & Spencer said that in the full year ended March 28 adjusted pretax profit fell to 671.4 million pounds from 881.1 million the prior year, but grew 4.1% in the second half of the year as growth in Food more than offset the decline in Fashion, Home & Beauty.

Total sales rose 24.8% to 17.371 billion pounds and were up 1.9% excluding the Ocado Retail joint venture to 14.178 billion pounds.

Adjusted operating profit was 818.4 million pounds from 984.5 million the prior year.

Adjusting items totaled 292.1 million pounds and include 131.3 million pounds of cyber incident-related costs.

Insurance proceeds of 100.0 million pounds, in respect of incident, were recorded centrally in adjusted profit.

Food sales rose 7.0% and adjusted operating profit was 444.5 million, down from 491.8 million pounds, with a margin of 4.6%. Food market share rose by 17 basis points to 4.1%.

Fashion, Home & Beauty sales fell 7.7% while the adjusted operating profit was 213.4 million pounds from 478.0 million pounds in the prior year, reflecting the markdown and clearance of excess seasonal stock related to the cyber incident, principally in the second half. The margin was 5.5%.

International sales fell 7.2% and the adjusted operating profit was 39.1 million pounds from 35.9 million pounds in the prior year driven by reduced costs, as International began to reset franchise agreements and built new wholesale and online marketplace partnerships. The margin was 7.2%.

The group declared a full year dividend of 4.2 pence per.

share, up 16.7%.

(RADIOCOR) 20-05-26 08:37:22 (0182) 5 NNNN