British luxury apparel and accessories brand Burberry plc has reported improved preliminary results for its financial year ended March 31.

Total revenues increased 3% to £742.9 million. Retail revenues rose 11%, wholesale revenues declined 4%, and licensing revenues increased 6%.

“In a year of transition and investment, the group achieved solid financial results while advancing a number of strategic initiatives aimed at Burberry’s next stage of development. With a strong spring season underway, we enter our 150th year with confidence in Burberry’s future,” said Rose Marie Bravo, chief executive.