A customer walks in front of a Burberry store in central London in this July 15, 2008 file picture. — Reuters picLONDON, May 13 — Burberry today announced a surge in annual net profit, as the pandemic-hit luxury fashion brand benefited from a strong sales recovery in its final quarter.A year ago, Burberry was hit hard by the start of the pandemic in key market China.
Annual sales declined 11 per cent despite a 32-per cent hike in the first three months of 2021, or Burberry’s final quarter.“In terms of online, we have continued to capture the recent shifts in consumer behaviour,” the company noted. “The overall performance had been largely anticipated by investors, with the share price having risen by 52 per cent over the last year, as compared to a gain of 19 per cent for the wider FTSE 100,” noted Richard Hunter, head of markets at Interactive Investor.
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