Mulberry posts higher full year sales
Luxury brand Mulberry has posted a 4% full year revenue increase to £159.1 million as it continues to deliver on its strategic objectives.
In the 52 weeks to 1 April, retail sales in the Asia Pacific region rose by 3% while other international retail sales increased by 12%.
However, UK retail sales fell to £87.7 million from £88.5 million in the previous year after trading in the first half of the period was impacted by the country’s macro-economic environment.
Meanwhile the brand reported a pre-tax profit of £13.2 million compared to £21.3 million a year ago. Mulberry said this was a result of impairment reversals for some of its London stores and significant investments in expanding its direct-to-customer model.
Thierry Andretta, chief executive of Mulberry, said: “We have delivered a positive group performance this year thanks to our unique brand identity, beautiful innovative products and market-leading omni-channel proposition.
“Our Made to Last Manifesto also continues to set us apart and ensures that sustainability remains central to our strategy, with our ambition to transform to a regenerative and circular model across our supply chain by 2030 firmly on track.”
Giving an update on current trading, Mulberry said group revenue for the first 12 weeks of the new financial year was 6% ahead of last year, with retail revenue up 15%.
Andretta added: “We are well set for the year ahead with the right strategy in place to deliver on our growth plans. Finally, I want to thank colleagues for their continued dedication to Mulberry, bringing their creativity and commitment to our business.”
