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Burberry profit tops forecasts on better margins

LONDON (Reuters) British luxury goods group Burberry beat forecasts with a 49 percent jump in first half profit as fewer markdowns and better management of stock combined with an already reported rise in sales.

Chief executive Angela Ahrendts said Tuesday she expected the group trademark trenchcoats to sell particularly well canada goose store this Christmas.

cannot keep them on the shelves. I think canada goose uk outlet trenchcoats are going to be a best seller this year, she told canada goose clearance reporters, adding the 154 year old firm would launch an Canada Goose Online online service allowing shoppers to create a bespoke coat early next year.

Burberry, known for its camel, red and black check pattern, made profit before tax and one off items of 129 million pounds ($206 million) in the six months to September 30, beating a canada goose factory sale forecast for 114 million in a Reuters poll.

The group positive tone echoed that of other canada goose clearance sale luxury firms such as LVMH and PPR as the world moves out of recession and high end companies benefit from a surge in big spending Chinese tourists. consultancy Bain forecast last month that luxury sales growth would slow to 3 5 percent next year from 10 percent in 2010, as the basis for comparison becomes higher and currency moves could hamper tourist flows.

Burberry said uk canada goose outlet last month it expected full year profit in the top half of analysts forecast Canada Goose Jackets range of 240 270 million pounds, after a 21 percent rise in first half revenue boosted by sales of coats and leather goods.

Finance chief Stacey Cartwright said she did not expect analysts to change their forecasts canadagooseoutlete after upgrades canada goose coats then.

Citi analyst Thomas Chauvet, however, said he thought the consensus profit forecast would rise Canada Goose Parka to 280 285 million pounds, though he kept a investment rating on the shares, saying the good news was largely priced in after recent Canada Goose online strong gains.

Burberry Canada Goose sale shares, which have surged three quarters in value canadian goose jacket this year, periodically boosted by bid speculation, were up 0.5 percent at 1,025 pence Canada Goose Outlet by 0850 GMT, outperforming a 1 percent decline on Britain benchmark FTSE 100 share index.

CASH PILE Burberry shares trade buy canada goose jacket at a premium to rivals as a multiple of forecast earnings, and Investec analyst Katharine Wynne said this was canada goose uk shop deserved given the buy canada goose jacket cheap group strong momentum and potential to expand in fast growing emerging markets.

She also saw the uk canada goose prospect of a capital return to shareholders in 2011.

Burberry said it had net cash of 181 million pounds, but Cartwright declined to be drawn on how this might be used apart from already announced expansion plans, and said the board believed it was cheap Canada Goose right to retain a prudent balance sheet.

The group, which is opening stores Canada Goose Coats On Sale and investing online, lifted its interim dividend canada goose coats on sale by 43 percent to 5 canada goose uk black friday pence a share.

The gross profit margin leapt from 57.6 percent to 64.3 percent in the first half, due to a drive to ensure products such as rainwear and canada goose black friday sale cashmere scarves are never marked down, although the group forecast only a modest improvement in the second half against a tougher comparison.

It reiterated previous second half guidance for its retail, wholesale and licensing divisions, and kept its canada goose full year capital spending target at 130 million pounds, despite a deal in the first half to Canada Goose sale buy Chinese stores from its cheap canada goose uk franchisee.