Profits up 8.5% to £6.7m for the year
Mulberry will focus on international expansion after posting a profit hike of 8.5 per cent to£6.7 million for the year to March 31.

Sales for the year rose 4 per cent to£45.1 million. The luxury goods brand said it had consolidated sales growth over the period after having huge sales success with its iconic Roxanne and Bayswater bag ranges last year. It added that it was entering a new phase of development, where its main focus would be on the US, Europe and Asia.

Retail sales for the period increased 28 per cent and like-for-like sales were up 10 per cent. The retailer said it had continued to scale back wholesale accounts to improve control of the brand in the UK and had expanded its retail network where it has direct control over brand presentation.

Mulberry opened a store at Heathrow Terminal 3 and nine concessions within House of Fraser stores during the year. A new shop at Stansted airport will open in the next couple of months, followed by a shop in Glasgow. A store at Heathrow Terminal 5 is under construction and will open in the next financial year.

Mulberry said that it will increase marketing spend this year from£3 million to£4.9 million to help bolster brand awareness and support its international growth plans.