Member Article

Burberry posts 7% profit rises

Luxury fashion house Burberry has announced a 7% rise in profits before tax to £173.4m in its half year results on Wednesday.

Total revenues were up by 6%, while the firm predicted continued growth in its retail, digital and technology initiatives.

Burberry’s fragrance and beauty arm is set to be integrated into the group, after it announced it would directly operate this section from April 2013.

The firm raised its interim dividend by 14% to 8 pence per share, while retail revenue increases of 10% supported growth across the company.

Angela Ahrendts, Burberry’s Chief Executive, commented: “Our five key strategies remain highly relevant and we continue to invest in our retail, digital and technology growth initiatives.

“In retail/wholesale, which accounts for over 90% of our business, Burberry delivered 7% revenue growth, 11% profit growth and a further improvement in operating margin, all in a challenging external environment.

“One consistent brand expression, leveraged across all categories, will underpin future growth in the Beauty division and our existing core business.”

This was posted in Bdaily's Members' News section by Miranda Dobson .