Marks & Spencer Group PLC (LSE:MKS)
£ 2.98 -0.053 (-1.75%) Market Cap: 6.01 Bil Enterprise Value: 8.11 Bil PE Ratio: 14.33 PB Ratio: 2.11 GF Score: 69/100
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Full Year 2020 Marks and Spencer Group PLC Fixed Income Investor Earnings Call Transcript

May 20, 2020 / 01:00PM GMT
Release Date Price: £0.9504 (+10.77%)
Operator

Good day, and welcome to the M&S Fixed Income Investor Call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Mr. David Surdeau. Please go ahead.

David Wayne Surdeau
Marks and Spencer Group plc - Former Interim CFO

Thank you. Good afternoon, and welcome to the Fixed Income call. I'm David Surdeau, I'm the interim Group CFO, and I'm joined this afternoon by our group Treasurer, Dan Brook. I hope all of you and your families are keeping well in these difficult times. Look, I'm aware, there's lots of information to digest in today's RNS. So I'll quickly recap on the update we gave investors this morning before moving on to the questions and answers.

Group sales were slightly down at GBP 10.2 billion and group adjusted profits reduced by 21%. There was an estimated adverse impact to our adjusted profit of around GBP 52 million in March, and we largely attribute that to the impact of COVID-19. Cash through profits were down 20%. We recognized GBP 213 million of COVID-specific adjusted items. So that makes the

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