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Issued : 10 November 2021 Strong financial results Profit before tax & adjusting items of £ 269.4m ( 2019/20 , £ 176.3m ) Profit before tax of £ 187.3m ( 2019/20 , £ 158.8m ; 2020/21 , loss of £ 87.6m ) ● Marks and Spencer Group Plc Half Year Results for 26 Weeks Ended 2 October 2021 " Transformation and Covid Bounce Back Drives Strong Performance " The impact of Covid in 2020/21 renders comparisons to the prior year less meaningful . To aid understanding , throughout this document we are showing the 26 weeks to 28 September 2019 as the comparative period for commentary and percentage changes . Food sales¹ up 10.4 % , sales ex hospitality and franchise² up 16.9 % Food operating profit before adjusting items of £ 143.7m ( 2019/20 , £ 92.2m ) C & H sales¹ down 1 % , full price sales¹ up 17.3 % C & H online sales¹ growth of 60.8 % , now 34.4 % of total C & H sales . Store sales down 17.6 % C & H operating profit before adjusting items of £ 156.2m ( 2019/20 , £ 109.6m ) Net debt reduced to £ 3.15bn down 22.6 % on 2019/20 . UK pipeline includes 20 full line stores , enabling 3 full line closures in H1 International rebounding despite lockdowns , trading restrictions and EU border costs Underlying improvements in all main businesses M & S Food growing market share with consistent strong quality and improved value perceptions Ocado Retail opens 3 new CFCs . Planned capacity growth over 50 % since M & S investment C & H increased value and style perception . Market share growth across key categories and channels MS2 driving strong online growth , record active customers and increased retention Group Results ( 26 weeks ended ) Statutory revenue Sales before adjusting items Operating profit before adjusting items Profit / ( loss ) before tax & adjusting items Adjusting items Profit / ( loss ) before tax Profit / ( loss ) after tax Steve Rowe , Chief Executive commented : " Given the history of M & S we've been clear that we won't overclaim our progress . Unpacking the numbers isn't a linear exercise and we've called out the Covid bounce back tailwinds , as well as the headwinds from the pandemic , supply chain and Brexit , some of which will continue into next year . But , thanks to the hard work of our colleagues , it is clear that underlying performance is improving , with our main businesses making important gains in market share and customer perception . The hard yards of driving long term change are beginning to be borne out in our performance . " Basic earnings / ( loss ) per share Adjusted basic earnings / ( loss ) per share Free cash flow³ Net debt³ Net debt excluding lease liabilities³ Dividend per share M & S 2 Oct 21 £ 5,105.3m £ 5,112.9m £ 363.2m £ 269.4m £ ( 82.1 ) m £ 187.3m £ 159.9m 8.2p 12.1p £ 287.6m £ 3.15bn £ 0.82bn 26 Sep 20 £ 4,090.9m £ 4,102.1m £ 61.8m £ ( 17.4 ) m £ ( 70.2 ) m £ ( 87.6 ) m £ ( 71.6 ) m 1 ( 3.5 ) p ( 0.4 ) p £ 88.1m £ 3.82bn £ 1.31bn EST . 1884 @mandsnews £ 4,860.9m £ 4,860.9m £ 269.9m £ 176.3m £ ( 17.5 ) m £ 158.8m £ 122.4m Change vs 28 Sep 19 2019/20 ( % ) 5.0 5.2 34.6 52.8 n / a 17.9 30.6 28.1 70.4 n / a -22.6 -46.8 n / a 6.4p 7.1p £ ( 4.7 ) m £ 4.07bn £ 1.54bn 3.9p There are a number of non - GAAP measures and alternative profit measures " APMs " , discussed within this announcement and a glossary and reconciliation to statutory measures is provided at the end of this report . Adjusted results are consistent with how business performance is measured internally and presented to aid comparability of performance . Refer to adjusting items table below for further details . ¹All references to sales , a new APM , throughout this document are statutory revenue plus the gross value of consignment sales excluding VAT . 2 The Food ex hospitality and franchise APM is based on total revenue rather than like - for - like revenue , as was presented at the 20/21 year - end results . 3 Due to a change in the Group's accounting policy to recognise BACS payments at the settlement date , rather than when they are initiated , the comparative amounts for net debt and free cashflow have been restated .