Burberry’s “change goes on”: profits (+15.6%) reach ₤339 million in 2018

Revenues are steady, while profits have been increasing. Looking at preliminary data about the last financial year (closed on 30 March 2019), Burberry’s sales have been decreasing by 0.4%, therefore reaching 2.720 billion British pounds in the end. Conversely, profits after tax have been speeding up considerably, as they reached 339.3 million pounds, therefore increasing by 15.6%. Operating profits, which amount to 437 million pounds, rose by 7%. “Our transformation plan, which has been underway for a year, made us obtain superb improvements: at the same time, we succeeded in achieving financial performances in line with our expectations. The first collections by Riccardo Tisci got into sale stores at the end of February: early messages from customers were rather encouraging. We are currently attending to the implementation of our plan, which proves to be rewarding after the first accomplishments, while confirming our outlook for 2020 business year”, commented chief executive officer Marco Gobbetti. “Customers – emphasized Burberry in a press release – have given positive feedback to our new bags. We keep developing a wider and global leather goods line, even though the previous lines vulnerability did affect the overall performances achieved in the unit”. Looking ahead at the following financial year, Burberry announced they expect revenues to run steadily.

Picture taken from it.burberry.com


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