From Morningstar: 2024-05-15 10:28:00

Burberry shares dropped as profits fell, with shares undervalued by Morningstar at £21. Trading conditions are expected to remain challenging. Pretax profit plummeted 40% to £383 million, and adjusted operating profit fell 34% to £418 million. Revenue decreased by 3.9% to £2.97 billion. Like-for-like sales in Asia-Pacific were down 1.0% for the full year, with a fourth-quarter decline in sales. Burberry left its dividend unchanged. The company anticipates challenging trades in the first half of financial 2025 but expects benefits from second-half actions. It also foresees currency headwinds affecting revenue and adjusted operating profit.



Read more at Morningstar: Burberry Shares Slide After Profit Fall