Mulberry expected to post pre-tax profits up to GBP35.4mMonday, 11 June 2012
As revealed by market insiders, Mulberry shares are thought to be 50% higher than they were a year ago and at 1,950p it has a market value of around £1.2 billion. New chief executive Bruno Guillon, who joined Mulberry from Hermes in March, is expected to reveal pre-tax profits of £35.4m on sales of £170m for the year to March.
As reported by AP, Philip Dorgan, an analyst at Panmure Gordon, said: "It is one of our top picks in 2012, because we feel that it can deliver significant, sustained top line growth that will have a leveraged impact upon profitability."
Mulberry, which was founded in 1971 by Roger Saul and his mother Joan, has showed no signs of falling out of popularity after a successful launch of its Lana Del Rey bag, named after the platinum record-selling singer.
Photo: Mulberry SS12