Thursday, May 26, 2011

Top fashion brand ‘Burberry’ gains 40% profits

Excellent sales of leather bags and other trimmings have gone up revenues at lavishness fashion brand Burberry.
Margins for the 12 months at the end of March were £296m, up 40% one a year earlier, with incomes higher 27% to £1.5bn.
Burberry said its spotlight on non-apparel had paid off, as the segment description for around half of its sales increase.
It is scheduling a 12-13% add up in average retail selling space in the next years, with a partiality towards China, Latin America and the Middle East.
Burberry – renowned for its camel, red and black check outline- said it would open between 20 and 25 new outlets during this year, in spite of hard financial conditions.
"With a stable economic position, Burberry will carry on to spend for expansion in the recent year," the company said.
Richard Hunter, head of UK equities at Hargreaves Lansdown Stockbrokers, said: "For the instant Burberry stays an exceptional and distinguish example of a retailer getting pleasure from a stellar development line."
But he advised that, "the company remains uncovered to alters in demand for luxury accessories, which in turn is linked to general international financial health".
Burberry enhanced its complete year bonus by 43% to 20p a share.
It expected a small increased in its revenue margin this year, while it said that would be unhappy in the first six months by its nest eggs.

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