24 May 2012

Burberry still much in fashion

9:28 am on 24 May 2012

Burberry has reported strong growth in annual profits as it continues to expand around the world.

Pre-tax profits were up 24% to £366 million, with sales also up 24%.

The fashion retailer says underlying sales grew by 15% across Europe, but were up 41% in the Asia Pacific region.

In the past year, Burberry has opened 23 stores, including outlets in Hong Kong, Taipei and Paris.

Chief executive Angela Ahrendts says it plans to expand even faster this year.

The Asia Pacific region now accounts for 37% of both Burberry's retail and wholesale revenue.

Burberry became most famous for its trench coats and its camel, red and black check pattern. The company is 156 years old.