Burberry profits rocket
Group delivers consistent double-digit underlying revenue growth by region, channel and product.
In the year to March 2008 Burberry grew revenue by 18 per cent and adjusted operating profit by 14 per cent on an underlying basis. Non-apparel sales increased by 39 per cent on an underlying basis, generating 32 per cent of retail and wholesale revenue – up from 28 per cent in 2007. Luxury handbags continued to perform strongly and sales of shoes more than doubled in the year. Wholesale revenue from Emerging Markets, which include China, the Middle East, Eastern Europe, Russia, Brazil and India, increased by over 50 per cent in the year, with strong double-digit comparable store sales growth in these franchised stores.
Angela Ahrendts, Chief Executive Officer, commented: ‘Burberry’s 18% revenue growth and 14% profit increase demonstrate the robustness of our global luxury business in these challenging times, with consistent performance across our regions, channels and products. Brand momentum remains strong and we are investing in the future, continuing to grow and innovate our iconic outerwear, while developing exciting new businesses such as shoes, jewellery and childrenswear.’
