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Burberry first-half profit meets guidance

A mannequin is displayed in a window of Burberry's in central London May 28, 2008. REUTERS/Luke MacGregor
A mannequin is displayed in a window of Burberry's in central London May 28, 2008. REUTERS/Luke MacGregor

LONDON (Reuters) - British luxury brand Burberry met forecasts for flat profit in a first half period that reported revenue above 1 billion pounds ($1.60 billion) for the first time.

The 157-year-old group, best known for its camel, red and black check pattern, said on Thursday it made a profit before tax and one-off items of 174 million pounds in the six months to September 30.

Last month Burberry forecast a first-half profit around the level of the prior year's 173 million pounds.

Total revenue rose 17 percent to 1.03 billion pounds, driven by a 17 percent increase in retail revenue to 694 million pounds.

The update was the first from the group since it said last month that Chief Executive Angela Ahrendts would step down by mid-2014 to take up a new position with Apple and be succeeded by Christopher Bailey who will also retain his chief creative officer role.

(Reporting by James Davey; editing by Kate Holton)

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