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Burberry profit up 23pc

LUXURY goods group Burberry beat forecasts with a 23 per cent rise in annual profit – fuelled by strong sales of coats and leather goods.

Profit before tax and one-off items was £215m in the year ended 31 March. Sales rose seven per cent to £1.28bn.

The company said it would almost double capital spending to £130m in the 2010-11 financial year, with a focus on expanding in emerging markets like Brazil, Mexico and India. It also said it was hoping to expand its online operation.

Burberry – famous for its check designs – lifted its full-year dividend by 17 percent to 14 pence a share.