Burberry claims solid performance despite profit fall
17/11/2009
UK-based luxury goods brand Burberry has reported a fall in profits of 19% for the first six months of its current financial year, but has said its performance is “solid”.
The company said that it was seeing growth in non-clothing parts of its business, with handbags and footwear among the most important growth areas. It said larger handbags and shoulder bags were proving particularly popular.
The weakness of sterling against the euro was another boost for Burberry and the company said it had seen “exceptional growth” in its London stores over the six-month period.
Pre-tax profits were £78.4 million, down from £97 million for the same period last year.
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