Mulberry trebles profits as sales remain high

Luxury fashion group Mulberry has trebled its half year profits thanks to strong retail sales.Mulberry trebles profits as sales remain highThe leather goods maker said that pre tax profits rose to £15.6 million in the six months to September, up from £4.7 million in the same period last year.

In early trading, shares in Mulberry jumped 2.5% to £15.31.

The Chilcompton-based firm has said it will build a new factory in Somerset to open in 2013, creating about 250 new jobs.

The company opened five new stores in the Asia-Pacific and opened a new flagship store in New York.

Overall, UK retail sales increased for the period by 42% – with the luxury market remaining resilient to the decline in consumer spending felt on the High Street.

The company’s revenue from outside the UK rose by 115%, to £29.4 million, but the company warned about the impact of the eurozone debt crsis and weak economies in the developed world.

December 15, 2011  Tags: , , , , , , ,   Posted in: Business Growth, Business Profits, Business Sales, Business Win, Exporting Businesses, Global Businesses, Growing Business, Uncategorized, Winning Business

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