Marks & Spencer Reports 14% Increase In FY11 Net Income

Marks & Spencer Group PLC MAKSY reported a 14% rise in its fiscal 2011 net income on Tuesday. Marks & Spencer reported its earnings at 598.6 million pounds, or 38.4 pence a share, up from 523 million pounds, or 33.2 pence, in fiscal 2010. The company's pretax profit increased 11% to 780.6 million pounds from 702.7 million. Its adjusted net income rose to 34.4 pence a share from 32.7 pence. Marks & Spencer's revenue surged to 9.74 billion pounds from 9.54 billion. Marks & Spencer also announced its plans to pay a final dividend of 10.8 pence a share. MAKSY shares fell 1.32% to close at $12.75 yesterday. Read more from Benzinga's Company news.