Mulberry profits from overseas growth

Mulberry has seen profits rise as the luxury goods sector continues to bounce back.

Pre-tax profit was £4.7m in the six months to 30 September, compared with £1.5m a year earlier.

Mulberry said higher sales meant there was little end of summer season stock left to be sold at reduced prices, which maintained its profit margins.

It said it was "very positive" about the second half of its financial year.

Mulberry's total revenues for the six months rose 38 per cent to £44.7m.

The company also expanded its international operation during the period. It added new stores in Hong Kong, South Korea, Qatar and the United Arab Emirates.