Burberry profits dip 5% in 'year of transition' despite Brexit boost

Burberry has reported a 5% dip in annual pre-tax profits despite a boost to revenues from the weak pound in the wake of the Brexit vote. Burberry had previously explained how its European retail operations - particularly those in Britain - were benefiting from a surge in sales among US and Chinese shoppers taking advantage of sterling's fall in value since the EU referendum. Burberry said: "The external environment remained challenging... particularly in the US and Hong Kong.

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