- The business’ complete turnaround is bearing fruit, argues the manager
- The share price still has some way to climb
Ian Lance, co-portfolio manager at Temple Bar Investment Trust (TMPL), explains why the trust invests in Marks & Spencer (MKS):
Founded in 1894 by Michael Marks, who started with one store in a market in Leeds, Marks and Spencer is close to being a national institution. At its peak in the late 1990s, it was the dominant retailer in the UK, the first ever to make £1bn in annual profit. People grew up with it, they remember going there with their mothers to buy their school uniforms or food for special occasions; there’s an affection for it, and they want it to do well.