UK Burberry expands as profit rises 26%

British luxury brand Burberry posted a 26 percent jump in profit, as expected, and it announced yesterday that it would invest up to £200 million (R2.6 billion) in new outlets and expanding existing stores in London, Chicago and Hong Kong. The 156-year-old luxury fashion and cosmetics house said that it made an underlying pretax profit of £376m in the year to March. Burberry’s revenue rose 24 percent to almost £1.9bn. – Reuters