FY adj pretax profit 716.4 mln pounds, up 58% (Il Sole 24 Ore Radiocor) - London, 22 May - UK retailer Marks & Spencer said that in the year ended March 30 statutory revenue rose 9.3% to 13.04 billion pounds while sales rose 9.4% to 13.109 billion reflecting 13% growth in Food and a 5.3% increase in Clothing & Home.

Adjusted pretax profit rose 58% to 716.4 million pounds with adjusting items were a net charge of 43.9 million, compared with a credit of 22.4 million in the prior year. The net charge in the period primarily consists of costs relating to the UK store rotation plans and the ceasing of operations at Ocado Retail's Hatfield CFC, partially offset by a credit relating to the remeasurement of Ocado Retail contingent consideration to nil.

Adjusted basic earnings per share rose 45.6% to 24.6 pence.

Profit after tax rose 16.7% to 425.2 million pounds. The adjusted return on capital employed rose to 14.1% from 10.6% while free cash flow from operations improved to 413.7 million pounds from 170.4 million the previous year.

The group declared a final dividend of 2 pence per share resulting in a full year dividend of 3 pence per share.

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(RADIOCOR) 22-05-24 08:35:52 (0157) 5 NNNN