Shares in FTSE 250-retailer Marks and Spencer Group PLC (LSE:MKS) shot up 11% to 182p after it reported profits growth in the year to 1 April 2023.
Pre-tax profits in the year jumped 21% to £475mln, while revenues grew 9.9% to £11.9bn.
M&S also said it would be restoring its dividend after over three years since it was suspended at the start of the pandemic to aid the balance sheet.
“The transformation at M&S and the resurgence of the Clothing & Home unit in particular has met with investor approval, with the share price having risen by 20% over the last year, as compared to a drop of 3.2% for the wider FTSE 250,” said Richard Hunter, head of markets at interactive investor.