Hong Kong protests hit Burberry

14th January 2015, Comments 0 comments

Britain's luxury fashion group Burberry announced rising sales on Wednesday but said its performance in key market Hong Kong had been hit by the city's mass protests last year.

Group underlying sales climbed 15 percent to £604 million ($916 million, 781 million euros) in the three months to the end of December compared with the equivalent period one year earlier.

"Asia-Pacific delivered low single-digit percentage growth, primarily reflecting the disruption in Hong Kong, a high margin market, where comparable sales fell slightly in the period," Burberry added in a trading update.

"Mainland China and Korea grew by a mid to high single-digit percentage."

Burberry, whose financial year runs through to the end of March, said it would be looking to maximise "opportunities of the final quarter, including Lunar New Year" celebrations across Asia.

Tension remains high in Hong Kong -- the former British colony -- after rallies for free leadership elections blocked some of the city's major thoroughfares, ending in December when protest camps were cleared.

Hong Kong is ruled under a "one country, two systems" structure since former colonial power Britain handed it back to China in 1997, giving it greater freedoms than seen on the mainland.


© 2015 AFP

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