UK: Burberry's apparel sales grow in double digits

Burberry Group plc, the global luxury company, announces its results for the year ended 31 March 2008.
Angela Ahrendts, Chief Executive Officer, commented:
“Burberry's 18% revenue growth and 14% profit increase demonstrate the robustness of our global luxury business in these challenging times, with consistent performance across our regions, channels and products.
Brand momentum remains strong and we are investing in the future, continuing to grow and innovate our iconic outerwear, while developing exciting new businesses such as shoes, jewellery and childrenswear.”
Operational highlights:
• Consistent double-digit underlying revenue growth by region, channel and product
- 26% growth in Europe and Americas; Asia Pacific up 17%
- 20% growth in retail and wholesale
- 39% growth in non-apparel; womens and mens up double-digit
• Retail 49% of sales; opened net
- 20 mainline stores
- 49 concessions
- 10 franchise stores in Emerging Markets
• Non-apparel 32% of retail/wholesale revenue (up from 28% in 2007)
- Success in luxury handbags and shoes
• Continued transformation of back of house operations
- SAP core system built and deployed in corporate functions and European retail
- Sourcing gains achieved
- Direct deliveries to US started
Financial highlights:
• Total revenue of £995m, up 18% underlying
• For retail and wholesale combined
- Revenue up 20% underlying
- Adjusted operating profit up 23% underlying

- Operating margin up 30 basis points to 14.9%
• Adjusted operating profit including licensing of £206.2m, up 14% underlying
• Reported profit before tax of £195.7m, up 25%
• Adjusted diluted EPS of 31.6 pence, up 9%
• Full year dividend of 12 pence per share, up 14%
There will be a presentation at 9am (UK time) to analysts and investors at the Merrill Lynch Financial Centre, 2 King Edward Street, London, EC1A 1HQ.
The supporting slides and an indexed replay will also be available on the website later in the day. Burberry will update on trading on 15 July 2008 when it will issue its Interim Management Statement in respect of the First Quarter.