Burberry Group have announced a final dividend in respect of the 53 weeks to 2 April 2022 of 35.4p (last year: 42.5p) per share, amounting to £140 million, has been proposed for approval by the shareholders at the Annual General Meeting subsequent to the balance sheet date. The final dividend has not been recognised as a liability at the year end and will be paid on 5 August 2022 to the shareholders on the register at the close of business on 1 July 2022. The ex-dividend date is 30 June 2022 and the final day for dividend reinvestment plan ('DRIP') elections is 15 July 2022.
Other financial highlights include:
Revenue
Revenue £2,826m +23% CER, +21% reported
Retail comparable store sales +18% (H1: +37%; H2: +7%)
Retail full-price comparable store sales +24% (H1: +49%; H2: 10%)
Adjusted profit
Adjusted operating profit £523m, +38% CER, +32% reported
Adjusted gross margin of 70.6%, +60bps at CER and reported rates. Driven by higher mix of full-price sales and price rises reflecting the underlying strength in the brand
Adjusted profit margin of 19.0% at CER, +210bps (18.5% reported)
Operating expenses before adjusting items rose 19% at CER (+18% reported) due to higher investment and cost normalisation
Adjusted diluted EPS 94.0p, +49% at CER, +40% reported
Reported profit measures
Operating profit £543m, +4% after adjusting items of £20m net credit (FY21: £125m net credit)
Diluted EPS 97.7p, +5% reported
Cash measures
Full year dividend per share declared of 47.0p (FY21: 42.5p) restoring a normal pay-out ratio
Free cash flow of £340m (FY21: £349m) due to strong cash management
Cash net of overdrafts and borrowings of £879m at 2 April 2022 (27 March 2021: £919m) with a £150m share buy back completed in the year. Cash net of overdrafts amounted to £1.2bn with borrowings of £298m
