Burberry remain cautious as profits rise

The Burberry Heritage Trench Coat
The Burberry Heritage Trench Coat
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Luxury goods maker Burberry posted a 7 per cent rise in underlying full-year pretax profit, beating analyst expectations, but cautioned it was seeing increased uncertainty in some of its markets.

The company also said its expectation for its retail and wholesale profit for the new financial year 2015/16 would be around £40m lower than previously guided, due to the movement in exchange rates.

Burberry, which is known for its raincoats with camel, red and black-check patterned linings, posted pretax profit of £456m for the year ended March 31.

Chief executive officer, Christopher Bailey, who was born in Halifax, said: “At this early stage of the year, we are seeing increased uncertainty in some markets.

“Against this background, we will continue to manage our business dynamically - capitalising on the significant opportunities we have by channel, region and product to create long-term shareholder value.”