Restructured Burberry returns to yearly profit

Richness fashion company Burberry Group PLC on Wednesday said it returned to a profit for the full year as it benefited from restructuring efforts and increased retail operations.

For the year ending Walk 31, Burberry reported a net profit of 82.2 million pounds ($118.2 million), compared with a deprivation of 5.1 million pounds a year earlier.

Revenue was up 6.5 percent to 1.28 billion pounds and the full-year dividend was set at 14 pence, up 17 percent.

The institution said it had slashed inventories, boosted profit margins and grown its retail management to account for 58 percent of sales, up from 52 percent a year earlier.

In the fashionable year, Burberry plans to open up to 30 new stores, mainly in the Americas and the Asia-Pacific bailiwick.

Investors were encouraged by the report, sending Burberry shares up 4.7 percent to 641.5 pence in prematurely trading on the London Stock Exchange.

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