British retailer Marks & Spencer (M&S) has reported a 28.1 per cent jump in sales in Indian market for the first half of 2013-14 financial year, ended September 30.
Global revenues rose 11.2 per cent to 600 million British pounds for same period as the retailer reported a 13.5 per cent increase in profit after tax to 249.6 million British pounds during the six month period.
“We saw good growth in our priority markets of India and China and with our franchise partners in the Middle-East and Asia,” the company said in a statement.
M&S 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 financial year, 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.
Source: businesstoday.intoday