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Thursday 29 September 2016

Burberry sounds cautious note after profit rises

Published 20/05/2015 | 07:31

Burberry seen strong demand for the latest versions of its signature trench coats, pictured, and scarves as well as 'exceptional growth' for Burberry’s ponchos.
Burberry seen strong demand for the latest versions of its signature trench coats, pictured, and scarves as well as 'exceptional growth' for Burberry’s ponchos.

Luxury goods maker Burberry posted a 7 percent rise in underlying full-year pretax profit on Wednesday, beating analyst expectations, but cautioned it was seeing increased uncertainty in some of its markets.

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The company also said its expectation for its retail and wholesale profit for the new financial year 2015/16 would be around 40 million pounds lower than previously guided, due to the movement in exchange rates.

Burberry, which is known for its raincoats with camel, red and black-check patterned linings, posted pretax profit of 456 million pounds ($706.48 million) for the year ended March 31.

It was expected to report profit of 445.6 million according to a Thomson Reuters poll of 20 analysts.

Reuters

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