Mulberry records huge increase in sales and profit
21/06/2011
Revenues increased by 69% to £121.6 million (2010: £72.1 million), while profit before tax up was up by 358% to £23.3 million (2010: £5.1 million).
In the course of the year, Mulberry opened nine new stores, in Beijing, Hong Kong, Malaysia, Korea, Qatar, the United Arab Emirates, the Netherlands and Sydney, as well as a new flagship store at New Bond Street in London.
Further store openings are scheduled for New York, Amsterdam, Germany, Korea, China and Bangkok over the next 10 months.
Expansion of the brand’s Somerset factory is also under way, creating 50 new manufacturing jobs and adding 30% to production capacity.
Company chairman, Godfrey Davis, commented: “Mulberry has increased sales by 69% year on year and delivered a step change in profitability. Strong demand in all markets has continued into the new financial year and the outlook for the brand is positive. While we remain cautious about the global economic environment, we are focused on accelerating our international expansion.”
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