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Mulberry posts rise in sales and profit

Luxury brand Mulberry has said it made significant progress in the year to 31 March as it invested in design and its omni-channel operations.

GENERAL MERCHANDISE

Mulberry posts rise in sales and profit

Luxury brand Mulberry has said it made significant progress in the year to 31 March as it invested in design and its omni-channel operations.

Pre-tax profit climbed to £6.2 million from £1.9 million in the previous year while total revenue increased by 5% to £155.9 million.

Retail sales rose by 8% to £118.7 million with like-for-like sales up 8%.

During the year Mulberry presented its first collection from its new creative director, Johnny Coca, and opened a new flagship store in Paris to replace the previous, smaller shop.

Thierry Andretta, chief executive of Mulberry, said: "Mulberry has made significant progress during the last financial year with solid growth achieved in revenues and profit.

“The first collection introduced by our new creative director, Johnny Coca, has been well received by both the UK and international press and partners. Our UK manufacturing base, which produces circa 50% of our bags, has remained a core strength and point of distinction.”

Looking at current trading, Mulberry said total retail sales for the 11 weeks to 11 June 2016 were up 9% compared to the corresponding period last year with like-for-like retail sales rising by 4%.

Andretta added: “We have built a strong foundation for future growth as a result of the investment made in product design and development as well as our omni-channel infrastructure. Looking forward, we will invest further in developing exciting new product, whilst continuing to engage with our core UK and growing international customer base."

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