Burberry upbeat despite uncertainty

The company, which is famous for its red, black and camel check, said bumper sales through its Chinese outlets and flagship stores in London, Paris and New York helped half-year revenues jump by 30 per cent to £830m.

Despite the figures coming in ahead of City hopes, shares opened lower today and have dropped more than 20 per cent since July on fears of a slowdown in China.

Burberry said its Chinese outlets, which it acquired a year ago, showed same store growth of 30 per cent over the past six months.

Worldwide retail revenues rose by 45 per cent, with like-for-like sales growth up slightly in the second quarter to 30 September to 16 per cent, from 15 per cent in the first three months.

Total retail growth slowed to 42 per cent in the second quarter from 49 per cent in the first.

Outerwear and large leather goods accounted for half of the growth, with the Burberry London trench coat range a major contributor.

Chief executive Angela Ahrendts said the company’s first half performance “clearly demonstrates” the continued global momentum of the Burberry brand, though the group was prepared to “respond appropriately” if there is any significant change in demand in the luxury sector, she added.