Luxury brand Mulberry delivers strong results in FY'12

Mulberry Group plc, the English luxury brand, is pleased to announce its results for the year ended 31 March 2012.

Financial Highlights

• Total revenues increased by 38% to £168.5 million (2011: £121.6 million)
• Profit before tax up 54% to £36.0 million (2011: £23.3 million)
• Basic earnings per share up 47% to 43.9p (2011: 29.8p)
• Proposed dividend of 5.0p per share (2011: 4.0p per share)

Operating Highlights

• Bruno Guillon appointed CEO, with Godfrey Davis moving to Non-Executive Chairman
• 14 new stores opened during the year in the UK, the Netherlands, the USA, Korea, Singapore, Thailand and Taiwan
• Global expansion continued with international revenues growing 61% to £65.2 million (2011: £40.5 million), accounting for 39% of Group revenues (2011: 33%)
• Online sales grew 58% to £14.5 million, accounting for 9% of Group revenues (2011: 8%)
• UK factory extension completed, increasing UK production capacity by 30% and creating 60 jobs

Current Trading and Outlook

• Retail sales up 12% for the 10 weeks to 9 June 2012.  UK full price stores like-for-like up 14%
• Autumn/Winter 2012 third-party wholesale orders 11% higher than the Autumn/Winter 2011 season at the same time last year
• 16 new international store openings confirmed for 2012/13
• Second factory to be built in Somerset, doubling UK capacity and creating 300 jobs

Godfrey Davis, Chairman Commented:

"This year has seen us deliver another strong set of results and we have performed well against expectations.

While the current economic conditions make the short term trading outlook more challenging in some markets, we remain confident about Mulberry's long term future.  We continue to focus on developing our business internationally, opening new stores and building the foundations for long term growth.

The investment in a second factory in the UK will reinforce the Group's position as the largest UK manufacturer of luxury leather goods."

Mulberry is a British design company renowned world-wide for its craftsmanship and quality. The brand’s backbone is an extensive line of luxury fashion bags for men and women that combine stylish, stand-out design with the finest leathers and detailing. In addition to leather goods, Mulberry's product range includes womenswear, accessories and footwear.

Mulberry Group plc