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Companies & markets


FTSE 100

•Marks & Spencer ended the financial year with pre-tax profits down by a staggering 63.5% to £176.4m, leaving analysts split on just how steep the group’s uphill battle will be and whether its revamp will have the desired effect. Discounting restructuring- related costs, profit before tax was still 11% lower at £613.8m. The British retailer’s clothing and home business reported a 2.8% decline in sales but saw full-price sales growth of 2.7%.

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