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Date Submitted: 01/10/2014 06:24 AM
ANNUAL REPORT AND ACCOUNTS
For the year ended 31 March 2013
Mulberry Annual Report and Accounts Year ended 31 March 2013
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Financial HigHligHts Total revenue of £165.1 million (2012: £168.5 million)
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Retail revenue up 8% to £107.2 million, up 6% like-for-like Wholesale revenue down 16% to £57.9 million, reflecting European account rationalisation and destocking by Asian partners
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Profit before tax of £26.0 million (2012: £36.0 million), reflecting an investment in directly operated international stores and a contraction in gross margin Basic earnings per share of 32.2p (2012: 43.9p) Proposed dividend of 5.0p per share (2012: 5.0p per share)
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OPERating HigHligHts ●● 17 new international stores opened, in line with plan
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Construction of second UK factory completed on 3 June 2013 Enhanced product range including bags, small leather goods and men’s accessories Established regional structure and invested in talent across the business
10 YEaR REvEnuE
180 160 140 120 100 £m 80 60 40 20 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
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Mulberry Group plc
Contents
Page Chairman’s statement Business review Directors, secretary and advisers Corporate governance Directors’ remuneration report Directors’ report Directors’ responsibilities statement Independent auditor’s report Consolidated income statement Consolidated statement of comprehensive income Consolidated balance sheet Consolidated statement of changes in equity Consolidated cash flow statement Notes to the consolidated financial statements Independent auditor’s report Company balance sheet Notes to the company financial statements Notice of Annual General Meeting Group five-year summary 3 4 7 8 10 14 19 20 21 21 22 23 24 25 54 55 56 62 66
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Mulberry Group plc
Chairman’s statement Year ended 31 March 2013
The 2012/13 financial year has been one of consolidation following three years of extremely rapid sales growth. Our own retail...