Cyberattack on Marks & Spencer slices profits by more than a half

British retailer Marks and Spencer saw its half-year profits more than halve as a result of a cyberattack that brought its online business to a grinding halt.

In a statement Wednesday, M&S said its underlying pretax profits tumbled 55.4% to 184.1 million pounds ($240 million) in the six months to Sept. 27, largely on the back of a 40% collapse in online home and fashion sales after it was forced to halt website orders. Firm food sales helped cushion the blow.