Burberry half-yearly revenues up 9 per cent

The FTSE 100 fashion group's Chinese store sales rise.

New Statesman
Photograph: Getty Images.

The British clothing retailer Burberry has posted revenues of £1.1bn for the six months ended 31 March 2013, an year-on-year increase of 9 per cent on an underlying basis.

Angela Ahrendts, chief executive, said that continued innovation in product, marketing and customer service over Christmas and Chinese New Year as the main reason for the strong performance.

Ahrendts, however, warned that the global economy would remain challenging.

The retailer’s Chinese store sales rose by double digits, compared with low single-digit growth in the US and a flat performance in Europe.

Burberry currently receives three-quarters of its revenues from its own retail stores, where sales grew by 13 per cent year-on-year to £840m, with outerwear and menswear enjoying a strong half.

The FTSE 100 fashion group’s wholesale division sales fell 3 per cent year-on-year on an underlying basis.

Shares in the group were up 4 per cent at £13.16 just before midday. The group currently has 206 retail stores worldwide, along with 214 concessions.