Burberry Group PLC posted strong financial resuts with revenue up 24% to £1,857m.
All regions were up by double-digits, with the Asia Pacific being the largest at 41% retail/wholesale revenue, Europe at 15%, Americas also at 15% and the Rest of the World at 31%.
Non -apparel grew 22% underlying to remain Burberry's largest product division at 39% retail/wholeslae revenue. Significant growth was also seen in womenswear and menswear at 27% and 26% respectively.
Angela Ahrendts, Burberry Group's Chief Executive Officer, commented:
"Burberry has completed another successful year, with revenue up 24% and adjusted profit before tax up 26%. An intense focus by our global teams on business, brand and culture in recent years has resulted in a strong foundation across channels, regions and products. While we remain vigilant about the external environment, we will continue to invest in front-end opportunities within our brand, digital and retail strategies, to drive sustained, profitable growth andenduring customer engagement over the long term."
Burberry has continued to evolve its store portfolio, opening 23 mainline stores and 25 concessions during the year, while closing 10 and 16 respectively. The openings included the first larger format stores in Hong Kong, Paris and Taipei to better showcase the brand, product and digital innovation.
About a net 15 mainline stores are planned to open in FY 2012/13, biased towards larger format stores. These include the new, relocated store in Regent Street, London, the rebuilt store in Chicago and Pacific Place in Hong Kong. Capital expenditure for FY 2012/13 is planned at £180-200m (2012: £153m).
Burberry continues to invest in high growth luxury markets, with three directly-operated stores in Brazil, two in Mexico and seven in India. These markets are still in investment phase. Between five to ten new stores are planned for Central and Latin America in FY 2012/13, with further strengthening of the brand presence and operational capabilities.
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