Burberry'S Earnings: A 20% Increase In China'S Market Sales

< p > British luxury goods supplier Burberry reported on Tuesday that it benefited from the growth of Chinese sales and the further growth in Latin America, and the company's annual sales volume exceeded 2 billion for the first time in history.

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< p > Burberry earnings pointed out that sales in the Chinese market in the fiscal year ending March 31, 2013 ended 20% year-on-year growth, which completely dispelled worries about the demand for luxury goods in the market.

Angela Ahrendts, chief executive of Burberry group, also expressed optimistic expectations that China's sales growth will continue. She pointed out that "the index is very clear that China will continue to be the fastest growing market in the region, and not just for Burberry." Ahrendts

The demand for famous brands in Chinese market is very urgent. "

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< p > but China has not always been a blessing for Burberry group. The company issued a profit warning in September 2012 because of the slowdown in the Chinese market.

As Burberry opens 11 new stores in China, the Chinese market now occupies 14% of the company's retail and wholesale sales.

Burberry group has planned to open 8 new Chinese stores in the next fiscal year to make full use of China's market, including 3 new stores in Shanghai.

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At the same time, in the Latin American market, Burberry group opened four stores in Brazil, and opened up the market in Columbia, Chile and Barbados through franchising.

Angela - Al dende stressed that "Latin America will also be a growth driver, although the trend curve is not the same as China."

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< p > Burberry reported that the net profit before tax in the fiscal year decreased by 4% to 351 million pounds due to the cost associated with the perfume business.

Burberry ended its partnership with France international perfume company for nearly 20 years in the current fiscal year with a settlement of 83 million.

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< p > excluding specific items, the company's pre tax profit in fiscal year is 428 million, which is 2% higher than the market expectation.

In the fiscal year ending March 31st, sales revenue was 2 billion, an increase of 8% over the same period last year.

As a company's pformation from wholesale business to retail, the proportion of retail revenue in the second half of the fiscal year is 3/4, the revenue increased by 12% compared to the same period last year, while the wholesale business revenue decreased by 1% during the same period.

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< p > but Burberry also warned of the first half net profit performance of the new financial year, saying that the company's high-speed retail expansion in the new market and the pformation from wholesale business will have an impact on profits.

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< p > Burberry group also announced that the dividend payment will be increased by 16% to 29 pence per share. The share price rose to a new high of 15.45 pounds per share in the intraday, and finally rose 5.4% to close at 15.42 pounds per share.

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