Employees reap benefits of hard work
Marks & Spencer store workers are in line for a£40 million windfall when three employee share schemes mature this month.

More than 11,500 employees will benefit by an average of£3,500 each through the retailer's Sharesave scheme, as a result of the company's rocketing share price.

Employees were given an opportunity to participate in a three, five or seven year scheme. An employee investing the maximum amount of£250 a month in the five-year scheme starting in 2000 could make a gain of£39,085 at a share price of£5. Shares in the retailer closed at£5.75 on Friday.

M&S chief executive Stuart Rose said: 'We are delighted that many of our employees who have shown their faith in our business are able to reap the benefits of their hard work.'

At present, more than 22,000 M&S employees, the majority of whom work in stores, are members of the scheme.

The retailer is expected to update the City on its Christmas performance tomorrow.