(Alliance News) - Mulberry Group PLC said on Tuesday that its revenue and profit for the year ended April 2 is expected to be "moderately" ahead of expectations.
The Somerset, England-based luxury fashion company explained "robust" sales trends delivered in its first half has resulted in the increased revenue expectations for its full year. Though it noted the gross margins have been maintained.
Mulberry added it had increased investment in its second half to "further build global brand awareness". Despite this additional expense, the company nonetheless said it expects its full-year profit to be "moderately" ahead of current expectations.
Mulberry said it intends to announce its full-year results on June 29.
Shares in Mulberry were up 4.1% at 302.00 pence on Tuesday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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Mulberry Group (MUL)