海角视频 handbag maker Mulberry has reported a strong post-Covid recovery following a rise in revenue and profits for the last financial year.
Group revenue at the Somerset-headquartered retailer was up 32% to 拢152.4m in the 52 weeks to April 2022, while profit before tax reached 拢21.3m - up from 拢4.6m in 2021, though this included a one-off profit of 拢5.7m from its Paris exit.
海角视频 retail sales increased 36% to 拢89.8m over the year, while they were up 59% in China and 11% in South Korea. International retail sales increased 20% to 拢40.4m - up from 拢33.8m in 2021.
During the period, Mulberry opened five new stores in China, and four in South Korea, which the firm said were 鈥渇urther supporting鈥 growth in the Asia Pacific region.
Meanwhile, digital sales were down 16% to 拢47.5m - compared to 拢56.4m in 2021 - as customers switched back to shopping in stores, but sales were still up 31% compared to pre-Covid levels (拢36.3m in 2020).
Thierry Andretta, Mulberry鈥檚 chief executive, said: 鈥淲hilst the economic and geo-political outlook remains uncertain, we are an iconic international brand with a clear strategy for future profitable, cash-generative growth. We remain well placed to continue to deliver sustainable returns to the benefit of all our stakeholders.鈥
Mr Andretta said the strength of the firm鈥檚 financial results reflected the 鈥減ositive customer response鈥 to the retailer鈥檚 products and the strategic decisions the firm had made over the past five years.
Group revenue for the first 12 weeks of the new financial year is 5% ahead of last year, Mulberry said, supported by the company鈥檚 wholesale business, which is up 29%.
However, omni-channel (retail and digital) revenue is down 1%, largely as a result of Covid-19 restrictions in mainland China, including the closure of the majority of stores and the company's Shanghai distribution centre.
The board is proposing a final dividend of three pence per ordinary share.
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