Burberry declares dividend as revenue returns to pre-pandemic levels


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.

Previous articleCathie Wood’s ARK further reduces Unity Software stake after deal to buy more Palantir
Next articleMetals Stocks: Gold continues to surge after inflation shock, but Citi says it may be a winter bull market at best


Please enter your comment!
Please enter your name here