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Burberry hit by weak demand

Business | Bloomberg and Janice Huang May 19, 2017
Burberry Group reported a 21 percent drop in underlying pretax profit, hit by weak demand in the United States and Hong Kong.

But adjusted pretax profit of 462.4 million (HK$4.61 billion) for the fiscal year ended March 31 exceeded the average analyst estimate of 457.1 million, Burberry said yesterday, sending the shares up as much as 2.4 percent.

In the mainland sales growth accelerated in the latest quarter. In Hong Kong, sales saw negative growth for the year.



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