Marks & Spencer has been crowned Brand of the Year at the Marketing Week Awards 2024, pipping shortlisted brands Greggs, Lucky Saint, McDonald’s and Octopus Energy to the prize.

Marks & Spencer has notched up a better-than-expected jump in half-year profits thanks to buoyant food and clothing trading, but cautioned over an “uncertain” consumer backdrop and rising costs.

Marks & Spencer reported profit ahead of expectations for the first half of fiscal 2025, but warned that the uncertain consumer backdrop is expected to remain in the rest of the year.

The retailer reported underlying pre-tax profits up 17.2% to £407.8 million for the six months to September 28.