Burberry Group announce a final dividend per share proposed at 44.5p and with the interim of 16.5p gives a combined full year dividend per share of 61.0p - 30% ahead of FY22.
Other financial highlights include:
FY23 revenue advanced 5% at CER and 10% on a reported basis; comparable store sales increased 7%
Adjusted operating profit +8% at CER and +21% reported with margins 19.0% and 20.5% respectively
Reported operating profit +21% with margin 21.2%
Q4 comparable store sales accelerated to 16% as growth rebounded in Mainland China +13%
o Group ex Mainland China +17%, EMEIA +27%, Asia Pacific +19%, Americas -7%
Strong performance across core outerwear and leather goods categories
o Leather goods comparable store sales up 12% in FY23 and up 15% in Q4
o Outerwear comparable store sales up 7% in FY23 and 30% in Q4
Excellent response to new brand aesthetic and Daniel Lee's first campaign and debut runway show
Reorganised supply chain, merchandising and digital operations under new leaders to drive strategy, and recruited Kate Ferry as our new CFO
Agreed to acquire a business from an Italian supplier to strengthen technical outerwear capability
Refurbished/opened 60 stores; c.30% of the full price network updated; with a further 7 stores in April
Continued to make progress across our social and environmental agenda, including year-on-year reductions in scope 1, 2 and 3 carbon emissions
Strong cash conversion at 87% - proposed dividend increased 30%. Planned £400m share buyback to complete in FY24, in line with capital allocation policy
