Burberry China boost with 14% profit rise

Luxury goods group Burberry has delivered better-than-expected full-year profits, boosted by strong growth in China.

Sales in the world’s second-largest economy, where it has 69 stores, grew 20 per cent during the year. Burberry, known for its distinctive checked patterns, plans to open a further eight Chinese stores this year, including three in Shanghai.

Chief executive Angela Ahrendts said: “Further investment is being made in product assortment, customer service and the brand’s digital presence, to service both mainland and travelling Chinese customers.”

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Adjusted pre-tax profits rose to £428 million for the year to 31 March, up from £376m the previous year and ahead of analysts’ expectations of about £415m.

Revenues grew 8 per cent to £2 billion and the board proposed a final dividend of 21p a share, up from 18p last time, lifting the total payout by 16 per cent to 29p.

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