Mulberry Group's Board is proposing a final dividend for the 52-week period to 1 April 2023 of 1 pence per ordinary share (2022: 3 pence per ordinary share) to be paid, (subject to shareholder approval) on 24 November 2023 to shareholders on the register at 27 October 2023.
Other financial highilghts include:
Group revenue up 4% to £159.1m (2022: £152.4m) as Mulberry Group continued to deliver on strategic objectives, despite macro-economic uncertainty.
UK retail sales of £87.7m (2022: £88.5m). The first half of the year in particular was impacted by the broader economic environment, however performance improved in the second half.
Asia Pacific retail sales increased by 3% to £28.9m (2022: £28.0m), despite a number of COVID-19 lockdowns in the region, particularly in China and South Korea.
International retail sales increased 12% to £46.5m (2022: £41.7m).
Digital sales £48.4m (2022: £47.5m) up 2% and representing 30% of total revenue (2022: 31%). This continues to be above pre COVID-19 levels.
Mulberry Group maintained gross margins of 71.2% (2022: 71.7%) with full price retail sales increasing by 6% and representing 78% of total retail sales (2022: 76%).
Underlying profit before tax of £2.5m (2022: profit before tax £14.6m) included £4.0m (2022: £0.5m) of Software as a Service (SaaS) costs and additional investment in the Group.
Reported profit before tax of £13.2m (2022: profit before tax £21.3m).
The Group's revolving credit facility of £15.0m has been extended until September 2027.
