Mulberry Raised 2015 Annual Profit Is Expected To "Get Out Of Trouble."

In the past few years, Mulberry has been developing into the international market.

The group has set up a series of stores in North America, Europe and the Far East, and plans to open this spring flagship store in Paris.

Mulberry, Britain's top leather brand, has experienced a turbulent financial failure.

After falling time,

Finally, the "spring" came.

According to a statement in a statement on Thursday, the pre tax profits (excluding special items) in the 2015 fiscal year ended March 31, 2015 were "slightly ahead" of market expectations.

Barclays Bank Barclays analysts also raised their annual expectations, with pre tax profits adjusted from 4 million to 4 million 300 thousand.

According to BOF related news, the group is full year.

It fell from 163 million to 148 million, but it was generally in line with market expectations.

In addition, the launch of the spring and summer series promotes the sale of Mulberry's own stores, while helping to ease the decline in wholesale business.

"In the past five months, encouraging retail trends have reflected the response of our revitalized products and our strategy of focusing on consumers."

Godfrey Davis, chairman of the board, said in a statement.

Mulberry appointed Thierry Andretta as chief executive last month.

Thierry Andretta, with its rich experience in fashion and luxury goods industry, joined the board of directors in June last year. He previously served as CEO and chief executive officer of Italy jewellery Buccellati, and also served in luxury brands and luxury goods groups such as Moschino, C line, Emanuel Ungaro, Kering of Kai Yun group, and Mulberry group.

After Andretta takes over, Godfrey Davis will retire as chairman of the group.

More than 10 years ago, Andretta served as CEO of LVMH group's brand C e line, and also a former boss of designer Johnny Coca.

Now, Johnny Coca will take over the post of brand creative director in July 8th, which means working with her former boss Andretta again.

The 54 year old Thierry Andretta has fulfilled its new position in April 7th to fill the vacancy for a year after the former CEO Bruno Guillon stepped down.

Two years after the company's dramatic turmoil, Bruno Guillon resigned as CEO in March last year.

During his term of office, he blindly entered the high-end market, leading to the group issued several profit warning, also caused the resignation of creative director Emma Hill and the group's stock price plummeted 68%, the market value evaporated 2/3.

After leaving Guillon, Godfrey Davis aims to reduce the price points of some key products in order to win the support of its core consumers.

After Mulberry adopted too much emphasis on the high-end market pricing structure, it gradually implemented these measures.

Mulberry is mainly owned by Singapore billionaire couple OngBengSeng and Christina Ong's Challice Ltd. holdings.

They own 56.2% of the shares and the rest are listed on the London Stock Exchange's alternative investment market AIM.

Mulberry will announce its annual performance report in June 11th.

Mulberry group said prudent cost control means that annual revenue will be higher than market expectations. A new management team is trying to restore the fate of the British handbag manufacturer.