Burberry Group plc announced the appointment of Carol Fairweather as an executive director with effect from July 11, 2013. Carol will be proposed for election by the shareholders at the AGM of the company on July 12, 2013.

Burberry Group plc announced that a final dividend in respect of the year to March 31, 2013 of 21.00 pence (2012: 18.00 pence) per share, amounting to £91.5 million (2012: £78.6 million), has been proposed for approval by the shareholders at the Annual General Meeting subsequent to the balance sheet date. The final dividend to Burberry Group plc shareholders has not been recognized as a liability at the year end and will be payable on August 1, 2013 to shareholders on the register at the close of business on July 5, 2013. The company plans to open about 25 mainline stores and close about 15, while opening about 10 concessions and closing about the same number. Openings are biased towards the evolution of the portfolio in China and further expansion in Latin America. The company reported consolidated earnings results for the year ended March 31, 2013. For the year, the company has posted revenue of £1,998.7 million against £1,857.2 million a year ago. Operating profit was £345.8 million against £376.9 million a year ago. Profit before taxation was £350.7 million against £366 million a year ago. Profit for the period from continuing operations was £259.2 million or 57.0 pence diluted per share against £265.4 million or 59.3 pence diluted per share a year ago. Profit attributable to equity holders of the company was £254.3 million or 57.0 pence diluted per share against £263.3 million or 59.3 pence diluted per share a year ago. Adjusted profit before taxation was £427.8 million compared to £376.2 million a year ago. Adjusted diluted earnings per share were 70.0 pence against 61.6 pence per diluted share a year ago. Net cash generated from operating activities was £424.9 million against £373.7 million a year ago. Purchase of property, plant and equipment and intangible assets was £158.1 million against £126.1 million a year ago. Purchase of intangible assets was £17.8 million compared to £27 million a year ago. Adjusted operating profit was £428.1 million compared to £376.9 million in last year. The company provided earnings guidance for the fiscal year 2014. The tax rate on adjusted profit for fiscal year 2014 is currently expected to be about 25%. For the current year, the company would expect the interest charged to be broadly neutral. The company expects depreciation will increase to roughly £140 million. This year, capital expenditure is planned at around £200 million.

Burberry Group plc, 2013 Earnings Call, May 21, 2013