Burberry revenues up 17% to £2,330m in FY 2013-14

21 May '14

2 min read

Burberry announces preliminary results for 2013-14.

Highlights

Strong financial performance

-Revenue £2,330m, up 17%

-Adjusted profit before tax £461m, up 8%

Reflecting the shift of Beauty from licensing to direct operation

-Reported profit before tax £444m, up 27%

-Full year dividend 32.0p, up 10%

Moving progressively from 40% payout ratio to 50% over three years

-Net cash £403m at year-end, up £106m

-Strong brand and business momentum

-Retail/wholesale revenue up 19%; adjusted operating profit up 17%

-Comparable sales up 12%, demonstrating ongoing strength of the brand

Continued digital leadership in engagement, operations and commerce

-Innovative collaborations with Amazon, Apple and Google

-Improved productivity through investment in customer service and insight

-Focused investment in flagship markets, including four openings in Shanghai

-Outerwear, large leather goods and menswear key growth drivers

-Securing platforms for future growth

Japan transformation well underway

-Building brand presence in the second largest luxury market globally

-Investing in retail presence in key markets including Tokyo and Osaka

-Orderly transition from licensed product

Beauty infrastructure built; now positioned for growth

-Building on Brit Rhythm launches

-Testing Burberry Beauty Box concept

-Management transition successfully completed

As Burberry gave more detail about its strategies for future growth, Christopher Bailey, Chief Creative and Chief Executive Officer, commented, “Burberry delivered record sales and profit in 2013/14. The strength of this performance reflects sustained strategic focus, continued investment, disciplined execution and outstanding brand momentum during the year.

As we enter a new chapter, our teams are united and energised by the opportunities ahead from unlocking Japan, to accelerating Beauty and further integrating the physical and digital to deliver distinctive experiences. While mindful of macroeconomic uncertainties and currency headwinds, we remain focused on the things we can control and confident of driving sustainable future growth, benefiting all our stakeholders.”

Burberry

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