By  on November 9, 2017

LONDON – First-half operating profit at Burberry Group was up 24 percent to 127 million pounds on revenues of 1.26 billion pounds, as new chief executive officer Marco Gobbetti laid out his new strategy, with plans to thrust Burberry fully into the luxury arena.

The company said Thursday that revenue in the six months to September 30 was up 9 percent on a reported basis and 4 percent on an underlying one, with comparative retail sales also rising 4 percent. The profit boost, it said, came from a “significant improvement” in beauty profitability following Burberry’s new license with Coty, which came into effect on Oct. 2.

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