Mulberry's profit forecast up 16%
Saturday 12 March 2011
The luxury group Mulberry has raised profit forecasts for the third time in four months as the well heeled, both in the UK and overseas, snapped up its leather goods.
Mulberry, best known for its leather handbags priced at about £500-£900, yesterday said that sales and profit for the year ending 31 March were expected to exceed market expectations thanks to strong UK and export sales during January and February, which had continued into March.
Its house broker, Altium Securities, raised its 2010-11 pre-tax profit forecast by 16 per cent to £21.5m, and its forecast for the following year by 10 per cent to £27.5m.
"Mulberry's brand has become both relevant and desirable to the global consumer. But it barely has a toe in some of the world's largest luxury goods markets," Philip Dorgan, an analyst at Altium said. The shares closed up 16 per cent at 1,409.5p.
- 1 Bill Clinton portrait features Monica Lewinsky reference, artist admits
- 2 What happens to your body when you give up sugar?
- 3 Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
- 4 Have sex with your iPad thanks to the new sex toy no-one asked for
- 5 Average penis size revealed: Scientists attempt to find what is 'normal' to reassure concerned men
Bill Clinton portrait features Monica Lewinsky reference, artist admits
Japanese island overrun with cats after population explodes
China's 'Inconvenient Truth': video exposing country’s smog crisis watched 100 million times
Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
The 'sex selfie stick' lets you FaceTime the inside of a vagina
New theory could prove how life began and disprove God
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
This is what it's like to be dead, according to a guy who died for a bit
Durham Free School: 'Creationism taught at' free school facing closure
Ukip would cut billions from Scottish budget to fund English tax cuts
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
iJobs Money & Business
£15000 - £18000 per annum: Recruitment Genius: This is a great opportunity for...
£50000 - £60000 per annum + Excellent Salary: Austen Lloyd: An outstanding new...
£20000 - £21000 per annum + uncapped commission: SThree: As a graduate you are...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...