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Burberry Reports More Than Two-Fold Rise In Profit

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Burberry Group PLC (OTC: BURBY) reported a 27% rise in its revenue for the year ended March 31 on Thursday.

Burberry Group reported its preliminary net attributable profit at 208.4 million pounds ($340 million), up from 81.4 million pounds, in the year-earlier period. The group's revenue increased 27% to 1.5 billion pounds from 1.19 billion pounds. Its adjusted profit before taxes rose to 297.9 million pounds from 215 million pounds. However, analysts were expecting pretax adjusted profit of 295 million pounds on sales of 1.55 billion pounds. The group's Asia Pacific wholesale/retail revenue increased 62% in the year, while non-apparel surged 35%.

Burberry Group shares gained 0.09% to close at $43.69 yesterday.

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