Fashion brand Burberry has reported it has exceeded its second quarter sales as it logged a 30% increase in sales in the UK alone.
Burberry said the increase is due to positive trading in Europe and a "significant out performance in the UK", driven via tourists coming to London to take advantage of the weaker pound.
If the pound continues to be devalued or is sustained as it is, this could boost Burberry’s adjusted profit for the year by around £90 million.
Other figures show that its half-year period to 30th September saw total sales decrease 4% on an underlying basis to £1.16 billion due to a fall in wholesale and licensing revenues.
Chief creative and chief executive officer, Christopher Bailey, commented: “In a challenging external environment, we continue to focus on product innovation, retail productivity and digital leadership, against a backdrop of sustained action and investment to deliver long-term outperformance of our brand and business.
“The progress we are making to improve our ways of working, the agility of our teams to react to changes in consumer behaviour and the strength of our brand give us confidence for the future.
“We remain on track to deliver our financial goals.”
