Marks & Spencer’s profit falls

British retailer, Marks and Spencer, regarded as a barometer of UK consumer demand, has posted sliding net profit on tumbling clothing sales and a poor international performance. The first half of the group’s financial year was dogged also by the company’s decision to avoid discounting, while rainy weather dampened demand as shoppers avoided the British high street, M&S said in a statement on Wednesday. Earnings after tax sank almost a quarter to STG172.7 million ($A370.28 millio

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