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Annual Report 2023/24

Modern British Luxury

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Burberry is a British luxury brand headquartered in London with a longstanding commitment to quality, innovation, creativity and responsible business.

Our brand is built on the principles of Thomas Burberry, who founded the Company in 1856. With his invention of gabardine in 1879, Thomas revolutionised outerwear and opened opportunities for adventurers to explore new spaces.

We continue that legacy today as we focus on bringing our vision of Modern British Luxury to life.

Burberry OAR 2023

2023/24 Highlights

Burberry handbag

Revenue Performance

Total Revenue


(2022/23: £3,094)

Burberry OAR 2023

Financial Highlights

Adjusted operating profit


(2022/23: £634m)

Operating profit


(2022/23: £657m)

Adjusted diluted EPS


(2022/23: 122.5p)

Diluted EPS


(2022/23: 126.3p)

Dividend per share


(2022/23: 61.0p)

Cash (net of overdrafts)*


(2022/23: £691m)

* The Group also had borrowings at 30 March 2024 of £299m (1 April 2023: £298m).

A Burberry store.

Non-financial Highlights




Directly operated stores


Reduction in scope 3 emissions from a FY 2018/19 base year


Key raw materials in our products certified or responsibly sourced in FY 2023/24 (as defined in our Sustainable Raw Materials Portfolio)


People positively impacted in FY 2023/24 through community programmes supported by Burberry Group plc and The Burberry Foundation

^ This metric was subject to external independent limited assurance by PricewaterhouseCoopers LLP (PwC). For the results of that assurance, see PwC’s Independent Limited Assurance Report and Burberry’s Responsibility Basis of Reporting FY 2023/24 on Resource Hub.

Leadership Letters

Photo of Gerry Murphy

"The Board remains confident that Burberry’s strategic direction is right and that Jonathan and our executive team have the talent, energy and plans in place to deliver Modern British Luxury for all of our stakeholders."

Gerry Murphy


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Chair's letter

"With a shared vision of what it means to be the Modern British Luxury brand, our colleagues across the world are building a rich and exciting future for Burberry. I would like to thank them for their passion and commitment over the past year. I would also like to thank the Board and our shareholders for their continued support."

Download the Chair’s letter
Photo of Jonathan Akeroyd

"I am confident in our ability to successfully navigate this period and continue to leverage the unique attributes that make Burberry special to achieve our growth ambition."

Jonathan Akeroyd

Chief Executive Officer

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Chief Executive Officer’s Letter

"We have a clear strategy to achieve our vision across brand, product and distribution, supported by operational excellence, people and talent, values and sustainability. In the past 12 months, we have made advances in each of these areas."

Download the Chief Executive Officer's Letter

Modern British Luxury

Financial Measures

Revenue growth* Comparable sales growth* Adjusted operating profit growth*
CER Revenue Growth %


CER Comparable store sales growth %


CER Adjusted operating profit growth %


Adjusted operating profit margin Adjusted diluted EPS growth Adjusted Group ROIC
Adjusted operating profit margin %


Adjusted diluted EPS growth %


Adjusted Group ROIC %


* At constant exchange rates and adjusted for the 53rd week in FY 2021/22.

Burberry Beyond Strategy

As a brand with a deep connection with the outdoors, we strive to act responsibly with respect to the environment, the communities in which we operate and those employed within our business and wider supply chain.

Download the Environmental and Social Responsibility Section

Through textile innovation, Thomas Burberry elevated outerwear performance and enhanced its ability to protect explorers from the elements. Today, we are challenging ourselves to again harness creativity to play our part in protecting our planet. In line with our Company’s strategy, we are incorporating certified and responsibly sourced key raw materials into our products, embedding circular business models into our ways of working and eliminating plastic from our packaging, while at the same time reducing our use of resources.


Burberry’s heritage is embedded in the natural world. The Planet pillar of our Burberry Beyond strategy outlines how we manage our most significant environmental impacts and dependencies to mitigate material risks and realise opportunities while contributing to global efforts to tackle climate change and nature loss.


People are at the heart of our business and operations and our direct colleagues and those in our supply chain are critical to our success. We work to create an inclusive culture and environment where creative minds from different backgrounds can collaborate and flourish. We respect and uphold human rights wherever we operate and we work to enhance the wellbeing of all workers in our supply chain through dedicated initiatives.


We strive to do the right thing for our customers, our communities and the world around us. We continue our founder’s legacy by supporting young people, championing our communities and collaborating with organisations to make a positive impact. We give at least 1% of profit before tax (PBT) annually to charitable causes, including amounts donated to The Burberry Foundation (UK registered charity number 1154468).

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