Financial News

INTERIM RESULTS

14 NOVEMBER 2007

Burberry Group plc, the global luxury company, today announces its unaudited results for the six months ended 30 September 2007.

Angela Ahrendts, Chief Executive Officer, commented:

“We are pleased with the progress Burberry has made in the first half of the year. We delivered underlying revenue and profit growth of 19%, underpinned by the success of our luxury, retail and non-apparel strategies. This performance is consistent with our full year expectations. The diversity and balance that Burberry has across its products, channels and regions give us many opportunities for future growth.”

Six months to 30 September

% change

£ million

2007

2006

reported

underlying#

Revenue

449.1

392.0

15

19

Operating profit

97.3

74.6

30

38

Adjusted operating profit *

95.1

84.2

13

19

Profit before taxation

95.8

73.4

31

Diluted eps (pence)

14.9

11.1

34

Adjusted diluted eps (pence)*

14.8

12.5

18

Dividend per share (pence)

3.35

2.875

17

* “Adjusted” refers to profitability measures calculated before:
1. Atlas costs of £12.9m (2006: £9.6m) which relate to the Group’s infrastructure redesign initiative announced in May 2005.
2. Net profit of £15.1m (2006: nil) relating to the relocation of global headquarters.

# Underlying change is calculated at constant exchange rates.

Certain financial data within this announcement have been rounded.

Operational highlights

  • Retail revenue up 25% underlying; comparable store sales growth of 11%; opened 11 new stores
  • Wholesale revenue up 16% underlying; US up over 40% underlying
  • Accessories now 31% of sales (excluding licensing), led by luxury handbags
  • Atlas implementation in final stages
  • Increased investment in infrastructure to support strong growth

Financial highlights

  • Total revenue up 19% underlying (15% reported)
  • Adjusted operating profit up 19% underlying (13% reported)
    • Retail/wholesale operating margin up to 15.2% (2006: 14.0%), as gross margin increases by 300 basis points
  • Adjusted diluted eps up 18% as share buyback continues
  • Profit before tax up 31%, including £15.1m net profit relating to the planned relocation of global headquarters
  • Interim dividend increased by 17% to 3.35p

Enquiries

Burberry

020 7968 5919

Stacey Cartwright

Chief Financial Officer

Fay Dodds

Director of Investor Relations


Brunswick

020 7404 5959

David Yelland

Laura Cummings

Robert Gardener

View the full Interim Results Announcement in PDF format.


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