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Burberry raises dividend as sales and profits rise

Burberry has revealed a 23% increase in full year adjusted pre-tax profit.

CITY & CORPORATE

Burberry raises dividend as sales and profits rise

The group said adjusted pre-tax profit rose to £214.8m for the year ended 31 March 2010 from £174.6m the same time a year earlier, including an exchange rate benefit of £16.2m. Sales were up 7% to £1.3bn.

Burberry said it plans to accelerate investment in 2010/11 while further enhancing the brand, opening 20-30 new stores, biased towards the Americas and Asia Pacific. The group will increase capital expenditure to around £130m. Angela Ahrendts, CEO, commented: 'Burberry has delivered record profits in what have been very challenging markets.

'Looking forward, while mindful of the economic environment, Burberry plans to build on its strong financial position by accelerating investment in growth initiatives in retail, digital and new markets, while continuing to enhance the brand.'

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