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M&S profits fall by 1%

Marks and Spencer has reported a 1% fall in annual profits to £705.9 million for the year to March 31 - its first drop in three years.

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Shore Capital : 'M&S toughed it out well'

Against this somewhat gloomy backdrop and current situation we believe that M&S has toughed it out reasonably well. Whilst trading momentum for 2011/12 was far from stellar, the business performed robustly in clothing and general merchandising, given market conditions, while the food business did well to outperform a tough sector.

– Shore Capital analyst, Clive Black.

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