Business
Interim Results
Interim Results.
About this update from Burberry Group Plc
[{"type":"text","content":"\n \nRNS Number : 9878V Burberry Group PLC 09 November 2017 \n \n\n9 November 2017\n \nBurberry Group plc\nInterim results for the six months ended 30 September 2017\nNote: Burberry has also released a strategy announcement today, 9 November\n \n \nBurberry announces double-digit underlying profit growth in the first half\ndelivering strong operational execution \n \n\n\n\n\n£ million \n\n\n\n\n\n\n\n\n% change\n\n\n\n\n \nSix months to 30 September\n\n\n2017\n\n\n2016\n\n\n\n\n\nreported\n\n\nunderlying\n\n\n\n\nRevenue\n\n\n1,263\n\n\n1,159\n\n\n\n\n\n9\n\n\n4\n\n\n\n\n Retail comparable store sales\n\n\n4%\n\n\n0%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAdjusted operating profit\n\n\n185\n\n\n144\n\n\n\n\n\n28\n\n\n17\n\n\n\n\nAdjusted operating profit margin\n\n\n14.6%\n\n\n12.5%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nReported operating profit\n\n\n127\n\n\n102\n\n\n\n\n\n24\n\n\n\n\n\n\n\nAdjusted Diluted EPS (pence)\n\n\n32.3\n\n\n24.4\n\n\n\n\n\n32\n\n\n\n\n\n\n\nDiluted EPS (pence)\n\n\n21.4\n\n\n16.2\n\n\n\n\n\n32\n\n\n\n\n\n\n\nFree cash flow\n\n\n171\n\n\n75\n\n\n\n\n\n\n\n\n\n\n\n\n\nDividend (pence)\n\n\n11.0\n\n\n10.5\n\n\n\n\n\n5\n\n\n\n\n\n\n\n \nOperational highlights\n· Revenue +4% underlying, +9% reported with retail comp store sales +4%\n· Adjusted operating margin up 210bps to 14.6% benefiting from phasing and a significant improvement in Beauty profitability\n· Strong free cash flow £171m (H1 2017: £75m), cash conversion 117% \n· £191m of share buyback completed; total of £350m to be completed in FY 2018\n· Fashion and newness resonated well, with strength in rainwear and leather goods \n· Conversion improved in all regions led by returning top spending customers \n· Direct-to-consumer digital revenue grew in all regions led by growth of mobile\n· Delivered £20m incremental cost savings; cumulative now £40m\no Accelerated and expanded programme to deliver cumulative savings of £60m in FY 2018, £100m in FY 2019 and £120m annualised in FY 2020\n· Burberry Business Services opened in October\n· Beauty transitioned ...