Burberry said it will hit market expectations for its full year pre-tax profits after revenue for its second half to March 31 grew 2 per cent.
Like for like retail sales in its last quarter grew 3 per cent, down 0.5 per cent for the full half.
In Europe, Span and the US, Burberry’s fourth quarter outperformed the third quarter. It also had a strong quarter in the UK, driven in part by the weaker pound.
Burberry chief executive Angela Ahrendts said: “During the period, we intensified innovation in core outerwear and accessory categories, continued to improve inventory management and advanced execution of our cost efficiency programme. Entering the new year, we believe the Burberry brand and operations are well-positioned to capitalise on available opportunities, with the goal of delivering sustainable long-term growth.”
Burberry has ended its year cash neutral, compared to a debt of £64m at March 31 2008.
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