Burberry Group plc reports preliminary results for its financial year to 31 March 2007.
Financial Highlights: •Total revenue increased 15% on an underlying(2) basis to £850.3 million - Retail revenue increased 24% underlying, on a 12% comparable store gain - Wholesale revenue increased 8% underlying - Licensing revenue increased 10% underlying
• Adjusted EBIT increased 12% to £185.1 million - a 17% increase at constant exchange rates
• Adjusted retail/wholesale EBIT margin of 14.6% vs 14.5% in prior period - total adjusted EBIT margin of 21.8% vs 22.3% in prior period - movement reflects reduced licensing share of revenue
•Adjusted diluted EPS increased 21% to 29.1p
• Sharp acceleration in revenue, adjusted EBIT and EPS growth relative to prior year
• Continued strong free cash flow with £85 million generated in the year
• Final dividend of 7.625p per Ordinary Share proposed - 10.5p for full year, a 31% increase
• Bought 12.3 million shares at cost of £62 million during the year as part of ongoing repurchase programme
(1) “Adjusted” refers to profitability measures calculated before Atlas and plant closure costs: - Atlas costs of £21.6 million (2006: £11.1 million) relate to the Group's infrastructure redesign initiative announced in May 2005. - Plant closure costs of £6.5 million relate to the closure of the Treorchy manufacturing facility in March 2007.
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