Marks and Spencer (M&S) reported a 20 per cent jump in half-year profits and assured investors the improving sales trend in the second quarter is continuing despite an industry slowdown.
Group profit before tax and one-off charges rose to £220.3 million sterling for the six months to end-September. This was up from £183.4 million a year earlier, as the improved sales trend enabled the company to benefit from margin gains.
The results were at the high end of the forecast range of £185 million to £223 million and showed the biggest rise at the interim stage for four years.
Chairman and chief executive Mr Luc Vandevelde told reporters that contrary to some expectations, M&S had seen "no deterioration in trade at all" since the second quarter.
That was despite weakening consumer confidence and unusually warm weather, which hit sales of winter clothing at rivals such as Debenhams.
The company held its dividend at 3.7 pence and repeated its intention to hand £2 billion back to shareholders in March next year.
Analysts have been revising their profit expectations upwards after the high street retailer reported last month that second-quarter sales had improved to be up 2.8 per cent, the first quarterly rise for three years.
M&S separates its sales figures from profit announcements.