The British chain of department stores Marks & Spencer Group following the results of the financial year, which ended March 31, reported about the drop in pre-tax profit by 62%, or 2.6 times, to 66 million 800 thousand pounds sterling. The decrease was due to the planned closure of some stores. The one-time write-offs in this regard amounted to 515 million pounds. Adjusted profit was 580 million 900 thousand pounds, 5.4% down. The company increased revenue for the year by 0.8% to 10 billion 700 million pounds. Previously, Marks & Spencer announced plans to close more than 100 stores until the end of 2022. The profit after accounting for taxes in the past financial year fell by 75% to 29 million 100 thousand pounds. At the same time, the company retained annual dividends at the level of 18.7 pence per share.
Trump says he may cut down closures shortly regardless of deteriorating coronavirus outbreak23.03.2020
Singapore Airlines to reduce most of its fleet as coronavirus creates “greatest challenge”20.03.2020
Gold drops out of its $1,600 support as investors sell to cover losses19.03.2020
Dollar continues its climb as panic grows over piling virus fears