British sustainable luxury brand Mulberry has said it will continued to deliver on strategic objectives, despite macro-economic uncertainty, seeing profits fall by £12m.
The Somerset-headquartered group reported that for the 52 weeks to 1 April 2023, revenues was £159m, compared to £152m during the 53 weeks to 1 April 2022. The brand reported underlying pre-tax profits fells from £14.6m to £2.5m, while statutory pre-profits were down from £21.3m to £13.2m.
Mulberry noted that it received new investment and its results included additional operational costs of new stores in Sweden and Australia. The prior period also benefitted from £3.5m of Covid-19 related reliefs.
