British luxury brand Burberry reported broadly flat full-year revenue and profit on Thursday and said it expected similar this year as it sets the foundations for growth with more products by its new designer Riccardo Tisci in stores. Burberry profits steady as it waits for new ranges to hit storesThe company reported revenue of £2.72bn (€3bn), down 1pc at constant exchange rates, and adjusted operating profit of £438m, for the year ended March 30, flat on the same basis compared with the year before. Chief Executive Marco Gobbetti said the reaction from customers to Tisci's first collection had been "very encouraging" since it hit stores from the end of February. But it said it expected growth to be re-established in the second half as Tisci's collections build through the year. The company increased its full-year dividend by 3pc to 42.5 pence a share and it announced a £150m share buyback.

Source: Irish Independent May 16, 2019 07:30 UTC