MARKS & SPENCER (MKS) Very Top Heavy - Short from £4.01p Oct 2005

Seymour Pierce Ups Marks & Spencer Forecasts

Thursday, December 22, 2005 4:04:13 AM ET
Dow Jones Newswires



0758 GMT [Dow Jones] Marks & Spencer (MKS.LN) avoids discounting this Christmas, and this leads Seymour Pierce to upgrade its current full-year pre-items pretax profit forecast to GBP720M from GBP700M. Also ups next year's forecast to GBP765M from GBP730M. "We retain rather than change our (hold) recommendation, as after next year, with underlying costs estimated to be growing at around GBP90M, further increases may become more difficult to achieve." Shares closed at 489p. (IHO)