Source - SMW
Mulberry has lifted its FY pretax profit by 21% to £7.5m, from £6.2m, and says it plans to continue investing in advancing its international development.

"During the year we have made good progress. Our sales and profits are growing, enhancing our strong cash position," said CEO Thierry Andretta.

Total revenue was up 8% to £168.1m, from £155.9m. Inventory had been reduced to £42.8m, from £44.4m. 

On current trading, new retail stores had been opened in Shanghai and Hong Kong. Retail like-for-like sales including digital were up 1% for the 10 weeks to June 3.

"We have advanced our international growth strategy with a new partnership in Asia and the continued expansion of our omni-channel offer in key markets," said Angretta in a statement.

"We have generated strong creative momentum with new products that are well received by our existing and new customers.

"Looking ahead, we will continue to invest in advancing our international development and increasing Mulberry's relevance to our customers' rapidly evolving lifestyle."