Mulberry to beat expectations with small pre-tax profit

Mulberry

Mulberry expects to report a small underlying profit for the year, outperforming previous expectations, a trading update by the British luxury brand has revealed.

In the group’s results for the 26 weeks to 26 September 2020, the Board had stated that revenue for FY21 would be lower than in the year ended 28 March 2020, but that losses would be reduced.

However, as a result of continued strong growth in the Mulberry’s Asian markets, strong sales on its global digital platforms and improved margins due to lower mark-down sales, the Board now expects to report a small underlying profit before tax for FY21 on 22 July.