It looks like your browser is not up to date.
This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

Skip to main content
  • Register
  • Help
  • Contact us

Mulberry expects 'small' FY underlying pre-tax profit following 'strong' growth in Asian markets

Wed 28 April 2021 10:21 | A A A

No recommendation

No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.

(Sharecast News) - British luxury brand Mulberry Group said on Wednesday that it now expects to outperform expectations and report a "small underlying profit" before tax for the trading year ended 27 March.

At the time of its interim results in September, Mulberry warned that revenue for 2021 was expected to be lower than in the year ended 28 March 2020, but stated that losses would be reduced.

However, as a result of "continued strong growth" in its Asian markets, strong sales on the group's global digital platforms and improved margins due to lower mark-down sales, the AIM-listed firm now expects to beat expectations and post an underlying pre-tax profit.

Mulberry's preliminary results were slated for release on 22 July.

As of 1020 BST, Mulberry shares shot up 21.26% to 308.0p.

    The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.

    More AIM news from ShareCast

    No results were found