Luxury handbag maker Mulberry has plunged to a half-year loss after seeing sales fall amid the cost-of-living crisis, it told investors on Wednesday (November 30).
The Somerset-headquartered group reported a pre-tax loss of £3.8m for the six months to October 1 - against profits of £10.2m a year ago - despite hiking prices in March and September to offset soaring costs.
Results a year earlier were boosted by business rates relief support as well as profits on the sale of a shop lease in Paris, but even with these stripped out, Mulberry sank to an underlying £2.8m half-year loss from profits of £4.5m.
