Mulberry announces huge profit rise - graduate jobs

Graduates with retail related degrees will be interested to know that luxury brand Mulberry has announced an increase of 22% in annual profits.

The company, which makes designer handbags among other items, said high demand for a number of its ranges had boosted profits above expectations.

In its annual report, Mulberry said revenues rose 23% to £72.1 million in the year to March 31, while profits rose to £5.1 million.

The company added growth would have been even stronger had it not sold out of a number of popular items.

It revealed one of the most sough after products was the Alexa handbag, named after "modern British style icon" Alexa Chung.

It has ramped up production but said the complex nature of its items meant many popular ranges will continue to be in short supply if demand remains strong.

Bath-based Mulberry - whose bags sell for as much as £3000 - currently has 18 stand-alone and five airport stores in the UK, while its goods are on sale in 300 stores internationally through a range of franchises and concessions.

As well as improved confidence in Asian markets, the company has seen an influx of overseas shoppers taking advantage of the weakness of the pound.