Mulberry bags a 22% leap in profits

LUXURY fashion firm Mulberry yesterday reported a 22 per cent jump in full-year profits after demand for its ranges exceeded expectations.

The company's new Alexa handbag – named after the "modern British style icon", television presenter Alexa Chung – was an immediate best-seller and helped group sales accelerate during the second half of its financial year.

Sales rose 23 per cent to 72.1 million and profits hit 5.1m in the year to 31 March, but Mulberry said growth would have been stronger if it had not sold out of some key items.