Burberry says profit rises, increases dividend

Burberry Group PLC (BRBY.LN) said Thursday that its pretax profit for fiscal 2019 rose, and increased its dividend for the year.

The luxury-goods company said pretax profit for the year ended 30 March rose 6.8% to 441 million pounds ($568 million) from GBP413 million the year before. The result came slightly short of analysts’ expectations of pretax profit of GBP444.4 million, according to a consensus estimate provided by FactSet.

Revenue for the year inched 0.4% lower to GBP2.72 billion compared with GBP2.73 billion the year previous, but was slightly higher than analyst expectations of revenue of GBP2.71 billion, according to a consensus estimate provided by FactSet. For 2019, Burberry had guided for its revenue to be broadly stable compared with the previous year.

Burberry’s net profit was GBP339 million, up from GBP294 million the year before.

The company, known for its trademark tartan print, declared a dividend of 42.5 pence per share, up from 41.3 pence for the year previous.

Burberry continues to see its revenue and adjusted operating margin remaining stable at constant exchange rates in fiscal 2020, it said.

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