M&S profit up as Bolland unveils masterplan

Marks and Spencer has reported half-year pre-tax profits of £348.8m, up from £306.7m last year.

Marc Bolland, the company's new chief executive, also revealed his blueprint for the future of the company.

The company's profit hike represented a 17 per cent rise.

Bolland, who took over from Sir Stuart Rose earlier this year, said he was determined to keep M&S "special" with new products under the M&S banner.

"We are going to offer 1,000 new lines, making sure people can do a fullers shop. There will also be more clothing lines."

He said the company would initially concentrate on the UK before expanding its international business.