- Dividend slashed
- International sales impress
Commenting on his maiden set of full-year figures as Mulberry’s (MUL) chairman, Christopher Roberts, said that the board “must remain mindful of the external climate and ongoing sector headwinds including high inflation”. This sober injunction accompanied news that the luxury goods manufacturer had cut the full-year distribution by two-thirds.
The share price hardly budged for most of the day, which is hardly surprising given the dominance of Singapore’s Ong family and Frasers Group (FRAS) on the share register, but a late sell-off saw it close down 9 per cent.