Exchange Rate Changes Have Adverse Effects On Revenue Reduction In The First Half Of Burberry

Burberry latest release

According to the results of the report, the profit in the first half of Burberry (before September 2014) was reduced by 7.3% to 104 million 500 thousand pounds (i.e. 175 million 600 thousand US dollars), resulting in a reduction of 25 million pounds (i.e. 42 million US dollars) and 69 million pounds (115 million 900 thousand US dollars) in revenue in the first half of the year.

In addition, Burberry grew by 6.7% to 1 billion 100 million pounds in the first half of this year, with the constant growth of all geographical regions and major product categories.

The Asia Pacific market is doing well.

384 million pounds, an increase of 9% over the same period last year.

The net cash balance was 307 million pounds, compared to 208 million pounds in the same period last year.

However, Burberry's pre tax profit dropped by 10.7% to 141 million 800 thousand pounds.

The adjusted pre tax profit, which refers to the removal of money and other factors, is 152 million 300 thousand pounds, up 6% over the same period last year.

The negative impact of exchange rate has been a headache for many luxury companies in Europe, especially for most of the businesses in the field.

However, their quarterly performance reports still use their strong domestic currencies, and the euro dollar strategy has just begun to fall, but the pound remains strong.

Digital strategy has earned Burberry a reputation.

It also led to its sales growth.

Burberry attributed the sustained double-digit growth to the good performance of various markets and the success of digital strategy.

Burberry CEO and chief creative officer Christopher Bailey said: "for the first half of the company's performance is still satisfied, sales and profits increased by 14% and 6% respectively, it can be seen that Burberry is very popular in the market."

It is understood that the important strategy implemented in the first half of Burberry includes the re release of its classic costumes, the introduction of My Burberry perfume, which greatly improved the company's profits. In addition, there were nine new stores, including six airport stores.