Burberry Group plc reports interim results for its first half ended 30 September 2002.
EBITA increased by 32% to �55.1 million
EBITA margin expanded from 17.5% to 20.1%
Gross profit margin increased from 47.8% to 55.7%
Total revenues increased by 15% (9% underlying) as previously reported:
Retail sales up 32%, 17% underlying
Wholesale sales increased 8%
John Peace, Chairman of Burberry, commenting on the interim results: ''This is strong performance particularly in light of the difficult trading conditions and demonstrates that the business is on track to achieve the goals set out during the IPO process.''
Rose Marie Bravo, Chief Executive, stated, ''Burberry's encouraging performance in the first half was driven by continued execution of our strategic agenda in key product categories, targeted geographies and distribution channels. The dedication of our management team, the efforts of our licensee partners and the support of our wholesale customers underpinned this achievement. This strong financial performance is notable in light of the challenging trading environment.''