20th May 2015 06:41
LONDON (Alliance News) - Burberry Group PLC Wednesday reported growth in profit in its recently-ended financial year as demand for its signature trench coat, cashmere scarves and ponchos contributed to a rise in sales.
The retailer reported pretax profit in the year ending March 31 of GBP445 million, up from GBP444 million, while revenue increased 8% to GBP2.5 billion from GBP2.3 billion. Burberry said sales were driven by strong customer demand for its heritage trench coats, as well as for cashmere scarves and ponchos.
Underlying sales in menswear also increased by 10%, while underlying sales in beauty grew 26%.
Burberry added that its retail business continues to outperform the wholesale business, with revenue increasing 11% and 3%, respectively.
Burberry will pay a dividend of 35.2 pence, up 10% on the 32p paid the year before.
"At this early stage of the year, we are seeing increased uncertainty in some markets. Against this background, we will continue to manage our business dynamically - capitalising on the significant opportunities we have by channel, region and product to create long-term shareholder value," Chief Executive Christopher Bailey said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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