Burberry revenue up 3 per cent

Burberry has reported it performed solidly in the first half of the financial year. Total revenues increased 3% on an underlying basis to £355 million. Retail revenues increased 9% underlying whilst wholesale revenues declined 1% underlying. Licensing revenue increased 3% underlying.The UK market continued to be soft across both retail and wholesale channels.

Revenue in Non-Japan Asia increased 9% on an underlying basis during the half. In Greater China (Hong Kong and mainland China),growth across the retail and wholesale channels continued to be fuelled by demand from mainland consumers. Sales volumes in Japan experienced a small decline as the result of a soft apparel environment.

Sales to emerging markets increased in the first half. In conjunction with local partners, the Group opened franchised stores in Istanbul, Warsaw ,Sao Paolo, Jeddah and Riyadh.