Restructured Burberry returns to yearly profit

Make company Burberry Group PLC says benefits from restructuring measures have helped it carry back to a profit for the year ending March 31.

Burberry said Wednesday that it earned a net profit of 82.2 million pounds ($118.17 million), compared with a depletion of 5.1 million pounds a year earlier.

Revenue was up 6.5 percent to 1.28 billion pounds.

The New Zealand says it slashed inventories, boosted profit margins and grew its retail in force to account for 58 percent of sales, up from 52 percent a year earlier.

In the in circulation year, Burberry says it plans to open up to 30 new stores, mainly in the Americas and the Asia-Pacific department.

Burberry shares rose 4.7 percent to 641.5 pence in early trading on the London Variety Exchange.

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