Burberry profits surge 26%

Burberry continued its winning streak into the first half of its 2012 financial year, reporting that adjusted profits before tax surged 26% to £161.6m in H1.

By ELLE UK and NonePublished: 15 November 2011

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H1 revenue also rose, gaining 29.4% to £829.6m.

Burberry said it expects to increase its retail selling space by 15% in H2, opening eight to ten stores in China and Latin America as well as a flagship in Paris.

The British luxury brand attributed the results to strong sales at its flagship stores and in emerging markets. Sales in emerging markets such as China and the Middle East accounted for 19% of wholesale and retail revenue in the half, up from 6% in 2008.

Burberry has delivered a strong first half, reflecting our continued investment in innovative design, digital marketing and retail strategies, Chief Executive Officer Angela Ahrendts said in a statement.

I am just thrilled with the momentum the brand continues to have around the world, she added in an accompanying video.

The results statement also conveyed the groups sensitivity to the current economic situation.

We remain mindful of, and prepared to react to, any local or global uncertainties as we drive for long-term sustainable growth, Ahrendts said.

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