Burberry reports rise in profits - graduate jobs

Luxury brand Burberry may create new jobs for graduates in the near future, encouraged by an increase in its annual profits.

The fashion house reported underlying pre-tax profits of £298 million for the year to the end of March, up 39% from last year.

Burberry largely attributed bumper sales of leather bags and accessories for the improvement. It recorded a 35% increase in sales of non-apparel items such as handbags, jewellery and shoes.

The luxury clothing firm - well-known famous for its red, black and camel check - also posted a 27% rise in revenues to £1.5 billion.

High demand from Chinese shoppers and tourists has led to a more rapid economic recovery for Burberry and the luxury sector, compared with the rest of the retail market.

The company's underlying retail sales increased by 32% in the year, of which 12% was driven by China, where the group has 57 stores.

New store openings were focused on emerging markets, which make up 16% of retail and wholesale revenues, including India, Brazil and Mexico.

Copyright Press Association 2011