Asia boosts Burberry’s profit
High demand from Asia has boosted Burberry’s profit by 14 per cent.
The British luxury brand says pretax profit in the year to March totalled £428 million.
In China, where it has 69 stores, sales grew by about 20 per cent. Burberry says it plans to open eight new stores by 2014.
Burberry also saw double-digit comparable store sales growth in Hong Kong where it opened new stores in Pacific Place and Russell St.
However, its performance in Korea remained weak.
Overall, revenue in Asia Pacific rose 13 per cent.
Looking ahead, Burberry plans to open 25 new stores, locations biased towards China and Latin America.
“Burberry is well positioned with opportunity by channel, region and product. Our brand momentum, proven strategies and closely connected global team provide confidence in Burberry’s future performance,” said CEO Angela Ahrendts.