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Mulberry Group PLC (MUL.L)

MUL.L on London Stock Exchange

17 Oct 2017
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Latest Key Developments (Source: Significant Developments)

Mulberry signs agreement with Onward Global Fashion Co for Japan JV
Friday, 7 Jul 2017 02:00am EDT 

July 7 (Reuters) - Mulberry Group Plc ::Announces signing of agreement with Onward Global Fashion Co to form a new 50:50 JV company to operate its business in Japan.Mulberry Japan will develop group's retail, digital, omni-channel and wholesale business in Japanese market.Group and OGF will be equal partners, each owning 50 pct of share capital of Mulberry Japan.Group, OGF to invest 2.8 million STG in Mulberry Japan's share capital to provide funds to develop distribution network, build brand in Japan.Mulberry Japan will manage all retail, digital fulfillment and wholesale distribution for Japanese market.Mulberry Japan is expected to be operational from late 2017.Joint Venture will be accounted for as a minority interest in group's financial statements.Group anticipates investment in Mulberry Japan to be profit-neutral at group level during initial two-year development phase.  Full Article

Mulberry Group FY pretax profit rise 21 pct to 7.5 mln pounds
Wednesday, 14 Jun 2017 02:00am EDT 

June 14 (Reuters) - Mulberry Group Plc ::FY pretax profit rose 21 pct to 7.5 million stg.FY revenue rose 8 pct to 168.1 million stg.FY retail sales (including digital) up 8 pct to 128.3 mln stg (2016: 118.7 mln stg) with like-for-like up 5 pct.FY revenue from digital channels increased by 19 pct to represent 15 pct of group revenue (2016: 14 pct) with localised mulberry.com sites introduced in China and Korea.Retail like-for-like sales (including digital) up 1 pct for 10 weeks to June 3, 2017.Cash of 21.1 mln stg at end of period (2016: 14.0 mln stg).  Full Article

Mulberry says tourist spend helps London sales even as domestic demand softens
Thursday, 8 Dec 2016 02:00am EST 

Mulberry Group Plc : Half year report . Total revenue up 10 pct to 74.5 million stg (2015: 67.8 million stg) . Strong balance sheet with cash of 11.3 million stg at end of period (2015: 4.1 million stg) . Total retail sales for 10 weeks to 3 December 2016 up 4% (like-for-like up 3 pct) . International development strategy progressed with creation of majority-owned new business across China, Hong Kong and Taiwan . Tourist spending has benefitted sales in London, although domestic demand has softened in recent weeks . Anticipates additional FY costs of c. 1 million stg due to foreign exchange movements and an additional c. 2 million stg for strategic investments into north asia . UK and global outlook has become more uncertain since we last reported, however we are in a good position to continue to build our business . H1 loss before tax 0.5 million (2015: profit before tax 0.1 million) . Digital sales up 32 pct, accounting for 14 pct of group sales (2015: 12 pct) . Inventory reduced to 43.7 million stg (2015: 47.7 million stg) through strategic initiative . H1 pretax loss -500,000 stg versus 100,000 stg profit year ago .H1 revenue rose 10 percent to 74.5 million stg.  Full Article

Mulberry to form entity to operate in China, Hong Kong and Taiwan
Thursday, 8 Dec 2016 02:00am EST 

Mulberry Group Plc : Signing of an agreement with Challice Ltd to form a new entity to operate group's business in China, Hong Kong and Taiwan . Group will own 60 pct of share capital of new company, Mulberry (Asia) Limited ("Mulberry Asia") . Mulberry - Challice, which owns c. 56 pct of group's share capital, is under same ultimate shareholder control as Mulberry's existing distributor in region, club 21 . Mulberry Asia is expected to be loss-making during its first two years before moving into profit . Mulberry Asia will be funded by a mix of equity and debt with initial share capital totalling c. 3.2 million stg, of which co's share will amount to 2 million stg .Expects to directly invest c. 3 million stg in additional regional marketing support over next two years.  Full Article

Mulberry Group says full year revenue up 5 pct
Thursday, 16 Jun 2016 02:00am EDT 

Mulberry Group Plc : Fy revenue rose 5 percent to 155.9 million stg . Fy pretax profit 6.2 million stg versus 1.9 million stg year ago . Fy Retail sales up 8% to £118.7 million (2015: £109.9 million), with like-for-like sales up 8% . Earnings per share of 4.5p (2015: loss per share of 2.3p) . Fy Wholesale sales £37.2 million (2015: £38.8 million) . Total retail sales for 11 weeks to 11 june up 9% (like-for-like up 4%) . Continued investment planned in product design and omni-channel infrastructure . New autumn winter 2016 collection rollout to retail and wholesale channels will be completed by august 2016 . Fy UK retail sales (including digital) were up 9% (like-for-like up 9%) for year to £97.4 million (2015: £89.2 million); . Fy international retail sales (including digital) were up 3% (like-for-like up 2%) for year to £21.3 million (2015: £20.7 million) . Gross margin for year to 31 march 2016 was 62.0% (2015: 60.5%) . Board of mulberry seeks to balance paying dividends to shareholders with investing in business .Board remains confident of medium term outlook and is recommending payment of a dividend of 5.0 p per ordinary share (2015: 5.0p).  Full Article

BRIEF-Mulberry signs agreement with Onward Global Fashion Co for Japan JV

* Announces signing of agreement with Onward Global Fashion Co to form a new 50:50 JV company to operate its business in Japan