Upmarket fashion brand still strong
Fashion retailer Burberry this morning reported increased profits and sales, as investment in design and global expansion paid off.

Pre-tax profits for the year to March 31 rose to£164 million, from£140 million the previous year. Total turnover was£715 million, an increase of 6 per cent or 10 per cent at constant exchange rates.

Over the year, Burberry opened 12 directly operated stores around the world, and grew its presence in emerging markets, including 10 Chinese franchise stores.

While there was strong growth in retail and wholesale revenues over the year - 8 per cent and 9 per cent respectively - it was driven particularly by licensing revenues, which rose 17 per cent to£78.4 million. Fragrance licensing proved especially strong.

Burberry chairman John Peace (pictured) said: 'Over Burberry's almost three years as a public company, revenue has grown more than 40 per cent.'