Nov 06, 2019 / 12:30PM GMT
Operator
Good day, and welcome to the M&S Interim Fixed Income Call 2019-2020. Today's conference is being recorded. At this time, I would like to turn the conference over to Mr. Humphrey Singer. Sir, please go ahead.
Humphrey Singer - Marks and Spencer Group plc - CFO & Executive Director
So good afternoon, and welcome to the fixed income call. I'm Humphrey Singer, Group CFO, and I'm here today with our Group Treasurer; Jo Hawkes. I will quickly recap on the update we gave investors this morning before moving onto Q&A.
So in overview, first of all, remember, all the results are now reported under IFRS 16. On a reported basis, group sales were down 2% at GBP 4.9 billion, adjusted profit before tax at 17% down on last year was broadly in line with market expectation, which was pre-IFRS 16. We estimate that impact to have been a negative GBP 7 million on the results, and therefore, actually, results were slightly ahead of expectation.
The Food business is on track with positive like-for-like and with gross margin slightly down, reflecting
Half Year 2020 Marks and Spencer Group PLC Fixed Income Investor Earnings Call Transcript
Feb 14, 2024
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