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Burberry to ramp up investment

The luxury brand Burberry has delivered a surge in underlying profits for the year to 31 January. Burberry also vowed to almost double its capital expenditure to £130m to improve new product categories, open 20 to 30 new stores, mainly in the Americas and Asia Pacific, and expand e-commerce.

The retailer posted a 23 per cent rise in pre-tax profits to £215m.