British brand Burberry half-year profit up 6 pct

LONDON, Nov. 7 (Xinhua) -- British luxury brand Burberry on Wednesday reported an underlying pre-tax profit of 173 million pounds (276.8 million U.S. dollars) for the six months to 30 September, up by 6 percent from a year earlier, which exceeded analysts' expectations.

Meanwhile, the total revenues during the period rose 8 percent to 883 million pounds.

However, the adjusted pre-tax profit stood at 112 million pounds, compared with 159 million pounds of last year's same period, after taking into account a one-off payment of 73.8 million pounds Burberry made to end a fragrance and beauty license with French company Interparfums.

Burberry will start to directly operate global sourcing, logistics and distribution of fragrance and beauty products as of 1 April next year, which is due to become the fifth product division of the fashion house.

Burberry issued a profit warning in September, saying its annual profit could be at the lower end of market expectations due to weak sales amid deteriorating external environment.

Its share price declined by 4.3 percent on London stock market on Wednesday, ranking among the biggest losers. (1 pound = 1.6 U.S. dollars)

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