LONDON (Reuters) – British luxury brand Burberry posted a 14 per cent rise in total first half revenue though it cautioned the external environment was becoming more difficult, partly offsetting reduced currency headwinds.
The 158-year-old seller of raincoats and leather goods, known for its camel, red and black check pattern, said on Tuesday it made revenue of 1.1 billion pounds ($1.77 billion) in the six months to Sept. 30, reflecting a strong performance across all regions and continued digital growth.
The outcome was driven by retail sales growing 15 per cent to 748 million pounds – bang in line with analysts’ average forecast, with comparable sales growth of 10 per cent.
Wholesale revenue rose 13 per cent to 317 million pounds.
However, for its second half to March 31 Burberry expects wholesale revenue at constant exchange rates to be down by a “mid single-digit percentage”. That reflects a more cautious approach from customers selling to the European consumer and in Asian travel retail markets.