Burberry – Sales Rebound

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Burberry Group plc (LON:BRBY)’s half year revenues of £1.2bn represent 45% growth year-on-year, once currency movements are accounted for, and are broadly in line with what was achieved pre-pandemic. That reflects strong growth in the Americas, China and South Korea, with strong growth in Leather and outerwear. Q3 2021 hedge fund letters, conferences and more Underlying operating profits rose fourfold to £196m. That reflects higher gross margins as the group focused on reduced discounting and product elevation, driving higher prices. The group announced a dividend of 11.6p, compared to no divi…

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