Burberry H1 Net Profit Drops 27%

Burberry PLC

reported a 27% drop in its first-half net profit. Burberry's quarterly sales climbed to GBP883 million, versus GBP830 million, in the year-ago period. Its net profit dropped to GBP85 million, while pretax profit adjusted for exceptional items rose to GBP173 million from GBP162 million. Burberry shares closed at $39.90 yesterday.