Published: May 20, 2026 at 8:24 pm
Marks & Spencer suffered a sharp fall in its annual profit following last year’s high-profile cyber attack.
The retailer was forced to halt all orders through its website and apps following last April’s hack.
According to the company’s annual results, profits were hit by £131.3m in costs related to the cyber incident.
The retailer said pretax profit dropped 29 per cent to £364.6m in the 52 weeks to March 28, from £511.8m the year prior.
Adjusted pretax profit fell 24 per cent to £671.4m from £881.1m, but sales grew 25 per cent to £17.37bn from £13.91bn.
M&S’s share price rose by just over 5 per cent on the back of Wednesday’s results, which were ahead of forecasts.
M&S said: “Performance in 2025/26 was a year of two halves: significant operational impact from the cyber incident during the first, followed by a return to sales and profit growth in the second.”
“Despite the disruption, M&S made further progress on its transformation, enabled by a strong balance sheet.”