Burberry smashes revenue forecasts

The 154-year-old maker of upmarket raincoats and handbags also said on it expected further profit growth in 2010-11.

Luxury goods firms have been hit hard in the recession but Burberry has coped better than most because it reacted quickly by slashing costs, jobs as well as its stock and range.

The group, known for its camel, red and black check, said underlying revenue increased 12 per cent to 380m ($624m) in the three months ended December 31.

Burberry said retail sales rose an underlying 16 per cent, with growth in all regions led by Europe and Asia Pacific, while wholesale revenue increased an underlying 5 per cent, driven by earlier and more frequent deliveries.