Marks and Spencer trimmed its full‑year loss after a cyber breach that rattled operations. The retailer reported adjusted pre‑tax profits of £671.4 million, down 23.8 percent, while incurring nearly £300 million in charges, including £131 million tied to the attack. The breach also erased more than £750 million from the group’s market capitalisation.

Full‑year sales surged 24.8 percent to £17.3 billion after the first consolidation of its Ocado Retail joint‑venture, though core sales grew only 1.9 percent. Food sales lifted 7 percent, and the group plans to double online non‑food revenue to almost £3 billion in the medium term, targeting half of total fashion sales through e‑commerce.

Chief executive Stuart Machin lifted the full‑year dividend by 16.7 percent to 4.2p, signalling confidence in recovery. The retailer earmarks £650 million – £750 million for store development, two‑thirds earmarked for food, to reinforce its grocery foothold. These moves aim to restore profitability and rebuild the brand after a cyber‑induced hit that dented investor confidence.

The cyber incident, which exposed customer data last April, cost the company up to £300 million in operating losses for the year. Despite this, M&S’s market cap recovered enough to regain a 4 percent share of the UK grocery market, a first for the retailer.