 Mulberry Group Thursday posted trading update for the 16 weeks ended 14 January 2012, stating that it had witnessed Strong performance over the six week Christmas trading period with growth in both the retail and wholesale businesses.
"I am delighted that trading during Christmas and the New Year has been strong and consequently the results for the year to 31 March 2012 are likely to exceed our earlier expectations," commented Godfrey Davis, Chairman of the group.
The company recorded a 41% rise in retail sales for the 6-week period ended 14 January 2012, with like-for-like sales for the 6-week period seeing an increase of 35% over the same period last year.
The Somerset-based company is likely to have benefited from strong demand from its Asian customers, not to leave apart other international fans of its luxury handbags such as the Alexa. Mulberry has opened 11 new outlets overseas since March, including flagship store in New York and sites in Singapore, Bangkok, Taipei. Finally, they have taken over South Korea with five stores, bringing its total to 92, with more than half overseas.
Shares rose 6 per cent during trading after the group said profits for the year to March 31 are likely to be higher than the 29 per cent rise to £30.1m it had previously expected. Investors cheered the news during the whole day, and consequently, Mulberry’s shares jumped 7.2 per cent to £15.85p
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