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Article: City traders overjoyed by Marks & Sparkling profits [Edition 2]
- Article from:
- The Evening Standard (London, England)
- Article date:
- November 4, 2009
- Author:
CopyrightCopyright 2009 Evening Standard - London. Provided by ProQuest LLC. (Hide copyright information)
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THEY threw the switch on the Christmas lights in London's Regent
Street and Oxford Street last night, and, as if on cue, shares of
some our major retailers lit up this morning.
Shares in the UK's best-known retailer Marks & Spencer drew the
oooh's and aaah's of City investors as they climbed 18 3/4p to 359 3/
4p, after City traders gave the thumbs up to first-half profits.
Pre-tax profits of Pounds 298.3 million showed little change on
the corresponding period last year, but were still at the top end of
brokers' forecasts. The operator of the 650-strong chain of stores
across the UK also achieved a rise in sales of almost 3% at Pounds
4.3 billion during the six months to 26 September. The ...