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Mulberry expects to report full-year profit

By Huw Hughes

28 Apr 2021

Business

Image: Mulberry

Mulberry said Wednesday it expects to “outperform expectations and report a small underlying profit before tax” in the 12 months to March 27.

The British luxury label said this was a result of “continued strong growth in the group’s Asian markets, strong sales on the group’s global digital platforms and improved margins due to lower mark-down sales”.

Mulberry expects to announce its preliminary results for FY21 on July 22.

For the twenty-six weeks ended September 26 2020, the company managed to cut its adjusted loss before tax to 1.9 million pounds compared to 10.1 million pounds in 2019. That was despite group revenue falling 29 percent to 48.9 million pounds in the period.

Mulberry’s digital sales soared 68 percent in the period to 23.4 million pounds, while sales in the Asia Pacific region were up 28 percent to 9.6 million pounds.