Highlights for the six months to 30 September 2015
Robust financial performance in a challenging environment for luxury
- Revenue £1,105m, unchanged year-on-year
- Adjusted retail/wholesale profit up 5% underlying (up 4% at reported FX)
- As planned, licensing profit down 13% underlying, as Japanese licences expire (down 21% at reported FX)
- Resulting in adjusted profit before tax of £153m, up 3% underlying
- Reported PBT £155m (2014: £142m), up 9%
- Net cash of £459m at September 2015 (2014: £307m)
- Interim dividend up 5% to 10.2p
Further building brand and business momentum
- Over 11m views of our festive film across social platforms within first 48 hours
- Combining our three labels to reduce complexity for customers and our business
- Increasing our capacity to manufacture trench coats in Yorkshire, England
- Making good progress in transforming Japanese operations
- Expanding global distribution of Beauty in store and online with key partners
- Comparable sales since the start of Q3 have improved relative to Q2
Christopher Bailey, Chief Creative and Chief Executive Officer, commented:
"This robust performance reflects decisive action as the external environment became more challenging in key markets over the period. We enter the second half mindful of this backdrop, but confident in our strongest-ever festive plans and emphasis on productivity and efficiency.
Beyond these immediate priorities, we remain focused on building Burberry for long-term, sustainable growth and value creation. In an evolving luxury environment, we see compelling opportunities by channel, region and product, underpinned by the strength and distinctiveness of our authentic British brand."
