As expected, total licensing revenue in the second half was unchanged year-on-year on an underlying and reported basis. The weakness of the Yen reduced reported revenue and profit by nearly £2m in the second half, although the strength of the Euro countered this.
Reflecting phasing differences, licensing revenue from Japan was marginally down on an underlying basis in the second half. There was good volume growth in our global product licences, including the successful launch of our new fragrance, Burberry The Beat. The non-renewal of certain licences, predominantly in menswear, as part of our strategy to move to a more consistent global product offer, also affected revenue growth.
marketing@alchempro.com
