M&S chair Archie Norman has insisted the business has “a lot more to do” despite its recent stellar financial results.

The executive explained the retailer had “a plan but it’s a high wire act and we have got to keep both feet on the wire,” The Guardian reported.

Speaking to the outlet, he said: “We have a lot more to do. Four years of decent results and people may think job done, but in fact there is long way to go.”

It comes after M&S saw half-year profit before tax and adjusting items surge more than 17% in November, for the period ended 28 September, hitting £407.8m.

Sales also climbed 5.8% to £6.52bn as it witnessed its “strongest value perception in over a decade”.

Following changes to its food and womenswear arms, the brand is now focussed on shaking up beauty, childrenswear, homewares, and its international arm under CEO Stuart Machin.

Norman said: “We think keeping the spirit of the turnaround is essential because it takes a long time to irreversibly change a business.”

However, the chairman noted: “I do believe that we have shown the opportunity of making M&S a great business.

“The critical thing now is to create a growth business. We are in a very strong position to achieve this and we have a plan.”

The food and fashion giant, which overtook Waitrose as Middle England’s top grocer in November, is set to pull in pre-tax profits of around £840m during its current financial year.

The comments come ahead of the brand’s festive trading statement on Thursday (9 January).

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