Burberry has reinstated its interim dividend and restarted its share buyback programme after first-half profits beat forecasts, but its shares fell back on concerns over slowing sales growth.
Revenue at the UK’s only major luxury goods group was ￡1.12bn in the six months to September 25, with full-price same-store sales 37 per cent ahead of last year and 18 per cent up on the same period pre-pandemic in 2019.
Adjusted operating profit was ￡196m, ahead of a consensus figure of ￡181m compiled by the company. That allowed Burberry to reinstate a half-year dividend of 11.6p, slightly higher than the payout two years ago, and announce a ￡150m share buyback for the second half.
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