Burberry in the pink with £141m

PROFITS at luxury goods group Burberry have jumped 21% to £141.2m, at the top end of analysts' expectations, in what chief executive Rose Marie Bravo describes as 'a terrific year'.

Each of the group's businesses enjoyed double digit growth and, with a favourable response to date to its autumn/winter merchandise, the group is confident of continued progress in the current year.

Bravo repeated her earlier forecasts of an 8% rise in net selling area this year and wholesale sales growth in the high single digits.

Highlights of the year to end-March included the successful launch of Burberry Brit fragrance and the opening of nine new stores, including outlets in Milan and Moscow.

Turnover for the year rose by 15% to £675.8m and the total dividend is raised by 50% to 4.5p.

Burberry's transformation from a traditional rainwear manufacturer, best-known for its trademark check design, to a 'style and luxury leader' continued at a pace, said Bravo.

Womenswear produced the strongest performance, with its eye-catching pink trenchcoat particularly popular.

In accessories, more contemporary products were added to the group's classic ranges. These included Candy check, a pink adaptation of Burberry's iconic pattern that was offered across a range of handbags and other accessories.

In licensing, Bravo said Burberry Brit for women was one of the most successful fragrance launches of the year.

editor@thisismoney.co.uk