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Mulberry first half profit rises 16 per cent

Full year results expected to substantially exceed current market expectations.

CITY & CORPORATE

Mulberry first half profit rises 16 per cent

Pre-tax profit rose to £1.5m for the six months ended 30 September 2009 from £1.3m the year same last year. Total sales increased to £32.3m from £27.8m.

UK retail sales rose 41per cent, with like-for-like UK retail sales up 39 per cent. The Group added that it has cash of £4.3 million and no debt

Chairman and chief executive Godfrey Davis commented, "Since September, demand has continued to grow for both the retail and wholesale channels. The outlook is positive and on current trends the results for the year will be substantially ahead of market expectations."

On current trading the Mulberry said that UK retail sales were up 47 per cent for the 10 weeks to 5 December 2009 with like-for-like up 46 per cent.

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