English
"Burberry Group" Plc, the largest British luxury goods producer, increased its dividend for the last time in the last year and a half, after posting a profit in the first half of its fiscal year.
Shareholders will receive 3.5 pence/shares, up 4% YOY, from 3.35 pence/share.
In the six months to September 30, the company"s net profit dropped to GBP 56.8 million (USD 95.7 million), from GBP 74.8 million at the end of H1 2008. Results were in line with analyst estimates.
"Burberry" lowered its stocks, and avoided selling at a discount.
The company yesterday announced it would launch a joint-venture in India, but the project is still waiting for the approval of the local government. "Burberry" officials provided no details.
According to consulting firm "Bain & Co.", global revenues on the luxury goods market will drop 8% this year.
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