News article

Burberry up in stock market trading

Burberry up in stock market trading
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Shares in Burberry have risen during stock market trading this morning (May 26th) after the luxury goods manufacturer posted strong financial results.

In the year to March 31st, sales at the firm climbed by seven per cent to £1.28 billion, while adjusted pre-tax profit rose 23 per cent to £215 million.

Burberry shares were up 28.5p on yesterday's close at 08:20 BST following the announcement, putting them on 641p on the FTSE 100.

A poll by Reuters had predicted pre-tax profit would be between £201 million and £208 million and chief executive officer of Burberry Angela Ahrendts said the company was pleased with its performance.

"Our outstanding team, the consistent execution of our strategies and our brand momentum have once again enabled us to gain share in the luxury market," she remarked, adding it has further investment planned for the 2010-2011 financial year, including opening up to 30 new stores, the majority of which will be located in the Americas and Asia Pacific.

Posted by Clive ArneilADNFCR-1681-ID-19800598-ADNFCR