Burberry: confirms FY 2023 outlook
(CercleFinance.com) - In 2022 revenue came in at 2.
826 billion pounds, up 23% from last year.
Adjusted operating profit beat expectations, up 38% at constant exchange rates to 523 million pounds. Meanwhile, the group's adjusted operating margin rose by 210 bp at constant exchange rates to 18.5%. Diluted EPS reached 97.7p, compared to 92.7p last year.
The group maintains its forecast of high single-digit revenue growth and significant margin expansion at constant exchange rates over the medium term.
Management said that its outlook depends on the impact of COVID-19 and the rate of recovery in consumer spending in mainland China. Although the current macroeconomic environment creates some uncertainty in the near term, it is actively managing inflationary challenges.
Its comments seem to be to little avail, however - Burberry shares are currently down 1.5%.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
826 billion pounds, up 23% from last year.
Adjusted operating profit beat expectations, up 38% at constant exchange rates to 523 million pounds. Meanwhile, the group's adjusted operating margin rose by 210 bp at constant exchange rates to 18.5%. Diluted EPS reached 97.7p, compared to 92.7p last year.
The group maintains its forecast of high single-digit revenue growth and significant margin expansion at constant exchange rates over the medium term.
Management said that its outlook depends on the impact of COVID-19 and the rate of recovery in consumer spending in mainland China. Although the current macroeconomic environment creates some uncertainty in the near term, it is actively managing inflationary challenges.
Its comments seem to be to little avail, however - Burberry shares are currently down 1.5%.
Copyright (c) 2022 CercleFinance.com. All rights reserved.