Burberry says sales picked up in third quarter

[LONDON] British luxury brand Burberry said on Thursday its comparable store sales improved in its third quarter relative to the second as it reported a better-than-expected 3 per cent rise in first half underlying profit.

The firm, famous for its trench coats and cashmere scarves, said it made an adjusted pretax profit of £153 million (S$329.8 million) in the six months to Sept. 30.

That was ahead of analysts' consensus forecast of £147 million and £152 million made in the same period last year.

Last month Burberry missed first half sales growth forecasts and warned of an increasingly challenging environment for luxury goods, particularly in China and Hong Kong, hammering its shares to a near three-year low.

REUTERS