Burberry returns to operating profit as revenue rises 6 percent

The profit figures need separating: FashionUnited reports 54 million pounds in operating profit, while profit after tax was 6 million pounds. The operating result was a loss of 18 million pounds over the same half a year before, FashionUnited reports.

WWD reports revenue of 1.1 billion pounds for the first half, a rise of 6 percent. Its report puts growth in Burberry’s core outerwear category in double digits. Comparable retail sales were 4 percent higher across both the first half and second quarter, according to WWD.

Wholesale is growing faster. FashionUnited reports a 17 percent increase at constant exchange rates, with revenue reaching 174 million pounds. WWD reports that Burberry now forecasts full-year wholesale growth of between 10 percent and 12 percent.