Burberry profit to be at top end
For the three months ended December 31, Burberry reported total revenues of £480 million, higher than £380 million last year. The growth was 24% on an underlying basis, calculated at constant exchange rates.
Total revenues for the quarter, excluding the discontinuing business in Spain affected by restructuring, grew 30% to GBP 470 million, while the underlying increase was 27%. The company attributed the improved performance mainly to strong consumer demand in both retail and wholesale, with consistent double-digit growth across all product divisions.
Commenting on the results, Chief Executive Officer Angela Ahrendts stated, "The Burberry team delivered a 30% increase in revenue in the third quarter, with strong, consistent growth in both retail and wholesale and in every product division and region."
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