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Burberry posts "solid" half-year results

Burberry posts
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Losses at Burberry have been limited by strong performance of its childrenswear and accessories offerings.

The luxury goods firm said that it recorded an adjusted profit before tax of £83 million for the six months to September 30th - £12 million lower than during the same period in 2008.

However, it was aided by two per cent rises in the amount of revenue generated from non-apparel items - which rose to 34 per cent - and childrenswear - which climbed to five per cent.

The news prompted shares in Burberry to fall on the stock market, dropping 7.5p to 592.5p at 09:55 GMT in London.

Angela Ahrendts, Burberry's chief executive officer, said that the results show the "strength" of the company, adding: "We enter the second half confident in our core strategies."

The firm also revealed that revenue from its retail locations was nine per cent higher at 54 per cent, and posted a net cash total of £56 million.

Posted by Greg SeckerADNFCR-1681-ID-19463612-ADNFCR