British fashion giant Mulberry Group has reported positive results for the year ended March 31, 2016.
In the period under review, the fashion firm reported profit before tax of US $ 8.7 million compared to US $ 2.6 million in the last fiscal year. Retail sales in the reporting year surged 8 per cent to US $ 168.1 million against US $ 155.6 million last year.
Retail sales in the UK (including online sales) zoomed 9 per cent US $ 137.9 million, and international retail sales surged 3 per cent US $ 30.1 million. In total, digital sales climbed 19 per cent, accounting for 14 per cent of Group’s overall sales. Wholesale sales for the year stood at US $ 52.6 million. The company expects wholesale business to remain stable during the current FY.
Also Read – Inditex notes 6% rise in profits
Commenting on the results, Thierry Andretta, CEO – Mulberry averred, “Mulberry has made significant progress during the last financial year with solid growth achieved in revenues and profit. The first collection introduced by our new Creative Director, Johnny Coca, has been well received by both the UK and international press and partners. Our UK manufacturing base, which produces 50 per cent of our bags, has remained a core strength and point of distinction.”
