Burberry has published its preliminary results for the 2023/24 financial year (ended March 30). They show annual sales of £2,968 million, down 4% on the previous year and stable at constant exchange rates.

Adjusted EBIT came to £418 million, down 34% (-25% at constant exchange rates), in line with consensus.

Earnings per share fell by 41% to 73.9 pence, while FCF was £63 million (-84%).

Burberry indicates that a dividend of 61 pence per share will be proposed, stable compared with the previous financial year.

"Although our financial results for the 2024 financial year are below our initial expectations, we have made good progress in refocusing our brand image, evolving our product and strengthening distribution while making operational improvements," commented Jonathan Akeroyd, CEO of Burberry.


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