Business
Half-year Report
Half-year Report.
About this update from Mulberry Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3310T\n Mulberry Group PLC\n 24 November 2021\n \n \n \n \n Mulberry Group plc\n \n \n Results for the twenty-six weeks ended 25 September 2021\n \n \n \n \n \n Further strategic progress amid strong consumer demand\n \n \n \n \n \n Mulberry Group plc (the \"Group\" or \"Mulberry\"), the British sustainable luxury brand, announces unaudited results for the twenty-six weeks ended 25 September 2021 (the \"period\").\n \n \n \n \n \n THIERRY ANDRETTA, CHIEF EXECUTIVE OFFICER, COMMENTED:\n \n \n \n \n \n \n \"I am proud of Mulberry's performance during the period. \n \n \n Our long-term strategy, namely our innovative and sustainable products made in our carbon neutral Somerset factories, our market-leading omni-channel distribution model, and our expansion into Asia Pacific, has delivered a strong financial performance.\n \n \n \n \n \n \n \"Product innovation and sustainability are central to our strategy, demonstrated by the recent launch of our \"The Lowest Carbon collection\", further supporting the commitments we made in our Made to Last manifesto and our goal to reach zero carbon emissions by 2035.\n \n \n \n \n \n \"The bold decisions we have taken with regards to focussing on our UK production capabilities, means that we are well placed for the festive trading period and beyond. Finally, I would like to take this opportunity to thank my colleagues for their hard work, commitment and achievement over the period.\" \n \n \n \n \n \n \n \n \n Financial Highlights\n \n \n · \n Group revenue increased 34% to £65.7m (2020: £48.9m)\n \n \n · \n Profit before tax of £10.2m (2020: loss before tax £2.4m) includes a one-off profit on disposal of Paris lease of £5.7m \n \n \n · \n Gross margin of 69% (2020: 59%) due to a strategic focus on full-price sales and increased volume efficiencies\n \n \n · \n UK retail sales increased 36% to £38.0m (2020: £28.0m)\n \n \n · \n China retail sales increased 38%, which contributed to the 23% increase in Asia Pacific retail sales to £11.8m (2020: £9.5m), reflecting ongoing investment in the region \n \n \n · \n US retail sales increased 57% to £3.3m (2020: £2.1m)\n \n \n · \n International retail sales represented 40% of Group revenue (2020: 41%)\n \n \n · \n Franchise and wholesale sales increased 67% to £10...