Burberry posts 18 per cent profit rise for second half


Burberry posts 18 per cent profit rise for second half
Luxury-brand company Burberry reported revenue in the second half increased by 18 per cent to £546 million despite a tougher market.

Retail sales increased 17 per cent to £282 million in the six months to March 31st. Retail was the biggest contributor to sales, accounting for over 50 per cent of the group's total revenue.

Handbags and shoes continued to drive sales, while the company opened its first standalone childrenswear store, located in Hong Kong.

Over the year, nine mainline stores and nearly 40 concessions were opened in addition.

Angela Ahrendts, chief executive, said: "Burberry had a good finish to the year, against the background of an increasingly challenging external environment.

Looking forward, we are thrilled with the momentum of our brand as our core luxury, retail and non-apparel strategies continue to gain traction, while our seasoned management team focuses on improving the operational aspects of our business."

In the year to March 2009, Burberry expects average selling space to increase by 12-13 per cent year-on-year, including about 15 mainline store openings, while wholesale is expected to increase by around ten per cent.

Shares in Burberry Group jumped 9.2 per cent to £4.32 by 11:15 BST as investors were not expecting such positive results.

Bookmark with:
Bookmark with: Digg Digg Bookmark with: Del.icio.us Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
HR / Recruitment
Health / Beauty
Hotel / Catering / Restaurants
IT / Internet
Insurance / Pensions
International / Overseas
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Transport / Logistics
Travel / Tourism / Leisure