Mulberry to reveal surge in profits
The new boss of British success story Mulberry is set for a fashionable entrance when he delivers his first set of results on Thursday.Frenchman Bruno Guillon, who joined as chief executive at the end of March, is expected to reveal a 50% surge in pre-tax profits to £35.4 million at the Somerset-based group as demand for its products overseas grows rapidly.
Investors will be keen to hear former Hermes managing director Mr Guillon's thoughts on the business and how he plans to maintain growth in the face of slowing Asian economies.
Mulberry, which was founded in 1971 by Roger Saul and his mother Joan, has showed no signs of falling out of popularity after a successful launch of its Lana Del Rey bag, named after the platinum record-selling singer.
Philip Dorgan, an analyst at Panmure Gordon, said: "It is one of our top picks in 2012, because we feel that it can deliver significant, sustained top line growth that will have a leveraged impact upon profitability."
Mulberry shares are 50% higher than they were a year ago and at 1950p it has a market value of around £1.2 billion.
Meanwhile, Europe's biggest regional airline Flybe is bracing itself for a wider full-year loss in its annual results on Monday after UK demand for flights took a nosedive.
The airline, which flies from airports including Bristol, Cardiff, Doncaster, Edinburgh and East Midlands, is set to make a loss of around £8.2 million in the year to March 31, compared to a £4.3 million loss the previous year.
Shares in Flybe are 65% lower than they were a year ago after it released a number of profit warnings. But Mark Manduca, analyst at Bank of America Merrill Lynch, said an improvement in trade in the final quarter of its financial year signalled a positive change.
He said: "Despite the continued cyclical pressures on volume, we believe that Flybe is well positioned for growth in the long-term. In particular, we highlight its hybrid model, combining some of the attractive characteristics of the mainline carriers with some of the strengths of the low-cost operators."
Mulberry shares are 50% higher than they were a year ago and at 1950p it has a market value of around £1.2 billion.
Meanwhile, Europe's biggest regional airline Flybe is bracing itself for a wider full-year loss in its annual results on Monday after UK demand for flights took a nosedive.
The airline, which flies from airports including Bristol, Cardiff, Doncaster, Edinburgh and East Midlands, is set to make a loss of around £8.2 million in the year to March 31, compared to a £4.3 million loss the previous year.
Shares in Flybe are 65% lower than they were a year ago after it released a number of profit warnings. But Mark Manduca, analyst at Bank of America Merrill Lynch, said an improvement in trade in the final quarter of its financial year signalled a positive change.
He said: "Despite the continued cyclical pressures on volume, we believe that Flybe is well positioned for growth in the long-term. In particular, we highlight its hybrid model, combining some of the attractive characteristics of the mainline carriers with some of the strengths of the low-cost operators."
© 2013 Press Association