luxury handbag maker Mulberry sees profits plunge
The decrease of ￡ 36 million to ￡ 26 million was expected, and the debt on its investments in international markets, where it hopes to contribute to overcoming the economic gloom in the UK and Europe.
But the annual results showed total sales by 2 percent today. Stocks plunged at the opening but recovered and were only 0.37 percent at 11 clock.
Mulberry's own stores said sales rose 6 percent on a like-for-like basis, but dragged down by a decline of 16 percent of wholesale.
Shoppers flock continues its UK outlets, spending € 91.8 million on the likes of Alexa and Del Rey designer bags, which in recent years due to the Somerset-based company from a case of trust and manufacturer of a portfolio of international fashion center .
But it is the concern of investors, whether the momentum will continue after that Mrs Hill, the transformation that saw Mulberry become a celebrity credited must-have brand developed so that the luxury brand creative disagreements reported to management.
The company has high hopes for the Asian markets slump in the middle euro zone.
Mulberry CEO Bruno Guillon said: "After three years of rapid growth, we have a global luxury brand in particular increase a year of consolidation in which we are the foundations of the transition from Mulberry set of a success story in the UK, we production in the. United Kingdom and the improvement of both our retail experience and product range.
"Mulberry is a well established company in the UK and a growing presence in Europe.
"With over 80 percent of our revenue from these markets where the economic environment remains difficult, the Mulberry challenge for the future to accelerate the awareness of our brand in the United States and Asia. He said raising the profile of the brand in Asia also help sales to tourists Europe and the United States and the growth of the local economy to visit.