Burberry declares dividend as revenue returns to pre-pandemic levels

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By Sabela Ojea


Burberry Group PLC on Thursday returned to the dividend list as it reported a rise in pretax profit for the first half of fiscal 2022 with revenue back at pre-pandemic levels.

The British luxury-goods company said full-price sales are growing at a double-digit percentage and that it remains confident of achieving medium-term goals.

Pretax profit for the six months ended Sept. 25 rose to 191.2 million pounds ($256.4 million) compared with GBP72.8 million for the same period a year earlier.

Operating profit increased to GBP207.5 million from GBP88.1 million. It was expected to rise to GBP177 million, according to the company’s compiled consensus.

The FTSE-100 listed company’s revenue rose to GBP1.21 billion from GBP877.7 million. It was anticipated to be GBP1.22 billion, taken from the company’s compiled consensus.

The board declared a dividend of 11.6 pence a share.

Burberry, known for its trademark checked-print clothing, that the Americas, Mainland China and South Korea delivered strong double-digit growth.

Comparable retail sales rose 37%. They were expected to be up 39% in the first half, taken from the company’s compiled consensus.


Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix


This article was originally published by Marketwatch.com. Read the original article here.

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