Economy Burberry reports 24 percent fall in H1 underlying profit

Burberry reports 24 percent fall in H1 underlying profit

British luxury brand Burberry.
British luxury brand Burberry.

British luxury brand Burberry (BRBY.L) reported a 24 percent drop in underlying first-half profit, in line with its expectations, reflecting lower licensing revenue and tougher trading in stores in the United States and Hong Kong.

The group, which has released a short-film about its founder Thomas Burberry as its Christmas campaign, reported adjusted pretax profit of 146 million pounds.

Burberry announced a 4 percent drop in half-year sales to 1.16 billion pounds ($1.44 billion) last month as weak demand in some overseas markets offset a surge in sales in its British home as tourists took advantage of a lower pound.

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