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UK: Burberry claims solid performance despite profit shrinkage

UK: Burberry claims solid performance despite profit shrinkage

Write: Wenonah [2011-05-20]

UK-based luxury goods brand Burberry has still claimed its performance being "solid" despite a 19% drop in profit during the first six months of its current fiscal year.

Pre-tax profits were £78.4 million, down from £97 million for the same period last year.

Growth derived from non-clothing products, said the company, with handbags and footwear being the strongest driver.

The weakening of British pound against the euro was another boost for the company, which saw "exceptional growth" in its London stores over the six-month period.