Burberry half year profits surge 26%
Burberry adjusted pre-tax profit jumped 26% to £161.6m in the six months to September 30, in half year results published today.
Operating profit grew 25% to £162.1m. Total revenue surged 29% to £830m.
Retail sales jumped 45%, accounting for almost two-thirds (64%) of revenue over the six months, compared to 57% in the same period last year.
Burberry chief executive Angela Ahrendts said: “Burberry has delivered a strong first half, reflecting our continued investment in innovative design, digital marketing and retail strategies.
“This consistent performance, balanced across channels, regions and product divisions, is enabled by our closely connected global teams and creative thinking culture.”
Emerging markets, including China, the Middle East and Latin America represented 19% of retail/wholesale revenue, up from 13% in the first half last year.
Responding to how the luxury brand would handle a downturn akin to that of 2008, Ahrendts said: “We have a very seasoned executive team, we know exactly what levers to pull, but right now we’re intensely focussed on optimising brand potential.”
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