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 firstname.lastname@example.org; @sabelaojeaguix
This article was originally published by Marketwatch.com. Read the original article here.