Burberry Group Plc , the UK’s largest luxury-goods maker, reported full-year profit that topped analysts’ estimates on Christopher Bailey’s first results day since taking over as chief executive officer.
Adjusted pretax profit rose 8 percent to £461 million in the 12 months ending March 31, London-based Burberry said today. Analysts predicted £450 million, according to the average of 18 estimates.
Mr Bailey, 42, became CEO this month, replacing Angela Ahrendts, under whom Burberry’s sales more than doubled in her almost eight years at the helm. Mr Bailey contributed to that growth in his role as creative chief, which he held since 2009. In one of his first acts as CEO, he is due to detail plans for Burberry’s beauty and Japan units at a presentation today.
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