Burberry's wholesale profits rise

Burberry has released figures of its wholesale revenue, which rose 8% and sales from licensing sales rose 10%. Full year operating profit rose 2% to £157.0m while turnover increased 14% to £850.3m. Sales were boosted by new shop openings in Prague and Seville.

Commenting on the results Angela Ahrendts, Chief Executive, stated: "With a 21 per cent increase in adjusted EPS on a 15 per cent underlying revenue gain, our 150th anniversary was an outstanding year for Burberry. On the strategic front, we advanced the luxury component of the brand, accelerated retail expansion and continued to evolve the operating model. We face the current year with confidence, given the strength of our brand, effectiveness of our strategies and talent of our teams around the world."