Sales up 8 per cent
Luxury goods retailer Mulberry has revealed first-half operating profits up 13.6 per cent to£2.5 million compared with£2.2 million the previous year.

Sales for the first six months to December 30 rose 8 per cent to£20.7 million compared with£19.1 million in last year.

Mulberry chairman and chief executive Godfrey Davis said: 'As projected, Mulberry has grown at a more moderate pace in this period, while we consolidate the exceptional sales advances that we made last year. This will create the platform for the next stage of the development of Mulberry as a global brand.'

Operating expenses increased by£1.1 million, reflecting the costs associated with two new standalone shops and six concessions that opened in the past 18 months.

The company reveals that accessories, which account for more than 90 per cent of group sales, will be the primary focus in all markets.

According to the retailer, this year is expected to show a modest sales growth, as they consolidate on substantial gains achieved last year, and they expect this modest growth to continue for the remainder of the year.

Topics