Mulberry returns to profit in 2015 first half
British luxury brand Mulberry has returned to profit in the first half of its financial year, boosted by strong online sales.In the company’s interim results for the six months ended 30 September 2015 it reported a pre-tax profit of £100,000 from a loss before tax of £1.1m in the same period of 2014.
Total revenue was also up 5 per cent to £67.8m, compared to £64.7m the year before. Digital sales increased by 20 per cent during the period and represented 12 per cent of group sales, compared to 10 per cent in 2014. The company said that total retail sales for the ten weeks to 5 December were up 4 per cent year-on-year.
Mulberry’s new creative director Johnny Coca will also show his first Mulberry collection as part of London Fashion Week during February 2016.
Thierry Andretta, chief executive, said: “Our strategy is beginning to deliver tangible results in line with our expectations. We look forward to Johnny Coca’s first Mulberry collection which will emphasise our Britishness and our heritage in leather, whilst delivering great quality within our targeted price range.
“We remain committed to our UK manufacturing base, which produces circa 50 per cent of our handbags. We are excited about the future and look forward to the Mulberry brand fulfilling its potential both in the UK and internationally.”