Mulberry Group plc Announces Unaudited Consolidated Earnings Results for the Six Months Ended Sept. 30, 2015; Provides Capital Expenditure and Tax Rate Guidance for the Year Ending March 31, 2016
December 10, 2015 at 02:00 am
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Mulberry Group plc announced unaudited consolidated earnings results for the six months ended Sept. 30, 2015. For the period, the company reported revenue of £67,768,000 against £64,700,000 a year ago. Operating loss was £58,000 against £1,218,000 a year ago. Profit before tax was £60,000 against loss of £1,110,000 a year ago. Profit for the period attributable to equity holders of the parent was £120,000 against loss attributable to equity holders of the parent of £410,000 a year ago. Diluted loss per share was 0.2 pence against diluted loss per share of 0.7 pence a year ago. Adjusted profit before tax-non-GAAP was £4,523,000 against £17,402,000 a year ago. Adjusted diluted earnings per share were 2.1 pence against 19.6 pence a year ago. Net cash outflow from operating activities was £7,058,000 against £2,925,000 a year ago. Purchases of property, plant and equipment was £2,036,000 against £6,074,000 a year ago. Acquisition of intangible fixed assets was £335,000 against £7,755,000 a year ago.
For the year ending March 31, 2016, the company's capital expenditure for the year to 31 March 2016 is expected to be in the region of £9.0 million compared with £17.0 million for the year 2015, of which the majority will be on stores. The effective tax rate for the full year is expected to decline to 48% against 63% a year ago, as a result of a reduction in the European and Canadian losses that cannot be offset against increasing UK profits.
Mulberry Group plc is a United Kingdom-based sustainable luxury brand. The Company sources, designs and manufactures leather goods, including bag ranges and other lifestyle accessories, which it sells direct-to-customer across approximately 190 countries through its integrated digital channels and store network. In other territories, the Company works with selected local partners to deliver its products to customers. It designs, manufactures and manages the Mulberry brand. It has two factories in Somerset, over 100 stores and a digital flagship. Its product categories include women, men, gifts and pre-loved. Its products include bags, icons, mini and micro bags, small leather goods, accessories, travel, home, ready-to-wear, shoes and gifts. Its women's bag category products include icons, shoulder bags, satchels, totes, clutches, mini and micro bags, and backpacks. The Company's men's accessories category products include scarves, hats and gloves, ties and cufflinks, and sunglasses.
Mulberry Group plc Announces Unaudited Consolidated Earnings Results for the Six Months Ended Sept. 30, 2015; Provides Capital Expenditure and Tax Rate Guidance for the Year Ending March 31, 2016