Burberry Group today announced its profits for the six months ended 30 September 2008 were up 3%. The company’s retail revenue was up 21% (14% underlying) and comparable store sales saw growth of 3%. Wholesale revenue was up 23% (15% underlying) and the Americas, Europe and Emerging Markets all performed strongly where there was double digit growth in most regions, except Spain. The company noted, however, that trading has become more difficult since the start of the third quarter, particularly in the United States.

Burberry stated there was growth in all product categories and non-apparel was up 20% to contribute 31% of revenue. Outerwear and innovative check all performed strongly. Peak season trading is still to come and if initial trends continue, adjusted profit before tax would be in mid to lower half of current range of market expectations. Angela Ahrendts, Chief Executive Officer, commented: “The fundamentals of Burberry remain strong, despite the current very challenging environment. With our supply chain and IT investments in their final phases, we are now in a position to drive significant efficiencies in the near term. These benefits, along with continued investment in the business, our seasoned management team, strong brand perception and proven strategies underpin our confidence in the future long-term growth of Burberry.

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