Revenue up at Burberry in lead-up to Christmas

Thu, Nov 8, 2012, 00:00

British fashion house Burberry said it is in strong shape heading into Christmas as wealthier shoppers continue to spend on its top-end ranges.

“We are as strong going into the third quarter than we’ve been in the seven years I’ve been with the company,” said chief executive Angela Ahrendts.

The firm sent shock waves through the industry in September when it warned of a slowdown in China, which has been the driving force of a near three-year boom in demand for luxury goods.

The group made a profit before tax and one off items of £173 million in the six months to September 30th. Total first-half revenue was £883 million.

The group, which ended the half with net cash of £237 million, is paying an interim dividend of 8 pence, up 14 per cent. – (Reuters)