Denim, dresses and more affordable food help lift sales and profits at M&S

M&S said sales of casual dresses had risen by 40% and chinos by 25%, with the retailer’s share of the UK denim market rising to 13%. Photograph: M&S

Strong sales of denim, dresses and office wear as well as more affordable food have lifted profits at Marks & Spencer, with the retailer promising to restart dividend payments for the first time since the pandemic.

M&S plans to restore a “modest” annual payment to shareholders, starting with an interim dividend in November, after underlying pre-tax profits rose by 21% to £476m in the year to 1 April, with sales increasing 9.6% to nearly £12bn.