Fashion house Burberry has continued to defy the current economic gloom by seeing its profits rise.
The company announced a 20 per cent increase in revenue – up to £539 million – in the six months to September 30th.
All regions (except for Spain) showed growth, with Korea, Singapore and Australia noted for particularly strong performances.
Luxury brands have been fairly resilient to the credit crunch and Burberry’s continued growth has made bosses confident enough to press on with expansion plans.
The company has announced that it will be embarking on a joint venture with The Jashanmal Group to create a new business, Burberry Middle East LLC, to be based in Dubai.
Chief executive Angela Ahrendts commented: “The fundamentals of Burberry remain strong, despite the current very challenging environment.
“With our supply chain and IT investments we are now in a position to drive significant efficiencies in the near term. These benefits underpin our confidence in the future long-term growth of Burberry.”
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