Marks and Spencer Group Plc reported a sharp drop in profit for the first half, mainly due to cyber incident charges, despite sales growth. The company expects second-half profit to be at least in line with last year, with residual effects of the incident decreasing. The firm remains cautious about the uncertain consumer environment but is confident in recovery by year-end. An interim dividend of 1.2 pence per share was declared, 20% higher than last year. Adjusted profit before tax decreased to 184.1 million pounds, while group revenue increased to 7.942 billion pounds, with food sales rising but Fashion, Home & Beauty sales declining. International sales fell as well.

Read more at Nasdaq Inc.: Marks And Spencer H1 Profit Plunges On Cyber Incident Charge, Sales Climb; Sees Flat Profit In H2