Luxury goods retailer Burberry has reported a robust performance with its first-half trading update. Indeed, in the period to the end of September, the group's underlying sales grew 9 per cent with total revenues up by 17 per cent.
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962p
Admittedly, the figures don't reflect the Spanish operation - which has suffered in the recession and is presently being restructured. And the group's underlying licensing sales did fall 3 per cent, although that was expected and reflects various planned non-renewals. Nonetheless, Burberry's overall growth profile remains intact and management says adjusted pre-tax profits for the full-year are expected to be "in the top half of market expectations".
When: 23/09/10
Price: 953p
Tip performance: -1 per cent
