High expectations at Mulberry
UK-based leathergoods brand Mulberry group believes its full-year results should “substantially” exceed expectations, as total sales increased 16% during the first half of 2009. Retail sales were strong, while wholesale sales were more or less flat.
For the six months to September 30, the company reported a 41% rise in total UK retail sales, up 39% on a like-for-like basis. Meanwhile, operating profit rose 28% to £1.5 million and profit before tax grew 16% to £1.5 million.
Meanwhile, during the ten weeks ended December 5, UK retail sales rose 47%, with like-for-like sales up 46%.
Chairman and chief executive, Godfrey Davis, said: "Mulberry has delivered further growth during the first half of the year due to strong demand for new and existing designs. Since September, demand has continued to grow for both the retail and wholesale channels. The outlook is positive and on current trends the results for the year will be substantially ahead of market expectations.”
