Burberry reports 40 per cent profits increase

Luxury fashion brand Burberry has enjoyed a 40 per cent increase in profits in the last year. A new strategy of focusing on handbags and other accessories has reaped dividends, with the label reporting profits of £296m for the 12 months to March and revenues of £1.5bn - up by 27 per cent.

Announcing plans to open 20-25 new stores in the coming year, Burberry said: "With a strong financial position, Burberry will continue to invest for growth in the current year."

The head of UK equities at Hargreaves Lansdown Stockbrokers, Richard Hunter, said: "For the moment Burberry remains a rare and notable example of a retailer enjoying a stellar growth trajectory."

Shareholders in Burberry will benefit from a 43 per cent increase in the dividend to 20p per share.  

Read a full report at BBC news. ·