Home / Knowledge / News / Fashion / Burberry Group H1 FY21 revenue falls 31% to £878 mn

Burberry Group H1 FY21 revenue falls 31% to £878 mn

13
Nov '20
Pic: Shutterstock
Pic: Shutterstock
Burberry Group plc, a British luxury fashion house, has announced its first half (H1) results for fiscal 2021 that ended on September 28. Revenue for the six-month period declined 31 per cent to £878 million compared to revenue of £1,281 million in same period previous year. Attributable profit for H1 FY21 fell to £48 million (H1 FY20: £150 million).
 
“Though the momentum we had built was disrupted by Covid-19 at the start of the year, we were quick to adapt, while making further progress against our strategy. While the virus continues to impact sales in EMEIA, Japan and South Asia Pacific, we are encouraged by our overall recovery and the strong response to our brand and product, particularly among new and younger customers,” Marco Gobbetti, chief executive officer of Burberry Group, said in a press release.
 
Gross profit during the first half of FY21 slipped to £598 million (£865 million). Operating profit plunged to £88 billion (£202 million). Group’s profit before taxation was £73 million (£193 million).
 
Regionally, sales in Asia Pacific region decreased 12 per cent to £439 million (£500 million). Sales in EMEIA came down 49 per cent to £251 million (£487 million). While, in Americas sales fell 37 per cent to £170 million (£270 million).
 
“In an environment which remains uncertain, we will continue to deliver exceptional product, localise plans and shift resources, while leveraging the strength of our digital platform to inspire customers,” Gobbetti said.

Fibre2Fashion News Desk (JL)


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