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Burberry profit rises as new boss takes helm
May 21, 2014 / 6:15 AM / 3 years ago

Burberry profit rises as new boss takes helm

LONDON, May 21 (Reuters) - British luxury brand Burberry met forecasts with an 8 percent rise in annual profit, though it reiterated that if foreign exchange rates remain at current levels there will be a material impact on 2014-15 profit.

The 158-year-old firm, known for its camel, red and black check pattern, said on Wednesday it made adjusted pretax profit of 461 million pounds ($777 million) in the year to March 31 - bang in line with analysts’ consensus forecast.

Total revenue rose 17 percent to 2.33 billion pounds.

The full year dividend was 32.0 pence, up 10 percent.

The results are the first since Chief Creative and Chief Executive Officer Christopher Bailey officially succeeded Apple bound Angela Ahrendts on May 1, though his appointment was announced in October. ($1 = 0.5935 British Pounds) (Reporting by James Davey; editing by Kate Holton)

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