UK: Burberry IPO In July, Profits Hit £90.3m
Retail and financial information group GUS on Tuesday reaffirmed plans for a partial float of luxury goods brand Burberry which is expected to value the luxury goods business at more than £1 billion. The confirmation came after Burberry posted a 30 per cent climb in annual operating profit to £90.3 million compared to £69.5 million in the year-ago period. That surge helped push GUS' pre-tax profits up 13 per cent to £552m, excluding exceptional charges.
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