British luxury brand Burberry's growth has slowed down in the first half of the year, because of "difficult external factors", with mainly lower Chinese sales.
Burberry's six-month turnover grew 14 % to 1.1 billion pounds (1.4 billion euro), which is slower than expected, mainly because of difficult Asian circumstances. EBITDA grew 6 % to 152 million pounds (nearly 200 million euro). Excluding exchange rate fluctuations, turnover and profit dropped even more: the latter dropped 12 % compared to last year, because of a 31 million pound (40 million euro) blow.
"We’re proud to report that Burberry delivered a strong first half, with sales increasing by 14% and profit up 6%, both underlying. [...] Looking ahead, in a more difficult external environment, we continue to focus on the things that we can control", CEO Christopher Bailey said.