Mulberry profits to be ahead of expectations

Luxury brand Mulberry has announced that its full year revenue and profit will come in moderately ahead of expectations 

In a trading update for the year to 2 April, Mulberry said the robust sales seen in the first half of the year had continued throughout the second half and that gross margins have been maintained.

Mulberry has increased its marketing spend in the second half as it looks to build global brand awareness. However, the brand said this has not impacted profit.

In November, Mulberry reported that first half revenue rose by 34% year-on-year to £65.7 million. Meanwhile, pre-tax profit was £10.2 million compared to a loss of £2.4 million a year earlier.

The company is intending to announce its full year results on 29 June.

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