Marks & Spencer reports 13.5% rise in profit

NEW DELHI: British retailer Marks & Spencer reported a 13.5 per cent increase in profit after tax to 249.6 million British pounds in the first half of the current fiscal ended September 30, 2013.

Global revenues rose 11.2 per cent to 600 million British pounds for same period, led by sales in India and China. Sales in India were up 28.1 per cent, the company said in a statement.

"We saw good growth in our priority markets of India and China and with our franchise partners in the Middle-East and Asia," it said

The company added that it is 'focusing on driving growth in key priority territories of India and China.'

The company, which operates 35 stores in India, will open nine more stores in the second half of the current fiscal, it said.

International operating profit, however, was down 6.2 per cent to 51.1 million British pounds. The company attributed the fall to continuing pressures in Ireland, among other things.