Burberry set plc f2q08 qtr http://www.rajpauljewellers.co.uk/burberry-men/burberry-shoes.html end http://www.rajpauljewellers.co.uk/ 9

Good morning, ladies and gentlemen and welcome to your burberry interim results 2007/2008 business call. (Assistance).I will hand it over to your host, stacey cartwright, to begin today's summit.Good morning, every individual.Just to tell you that with me this afternoon is fay dodds, our ir movie representative.I'm going to assume that everybody has seen the results announcement released this morning and therefore rather than studying the numbers in detail, i will spend just time summarizing the key points from the first half before handing the call over to you for questions.By and large, we're happy with the progress that burberry has made in the first half of the year.Our financial proficiency was strong.The headlines are listed below:Constant fx rates revenue grew by 19% to million.Adjusted operating profit also grew 19% basic to million, versus the million in the same period last year.Operating take advantage of licensing fell slightly in the half, hit by the yen some a listlessness.That took approximately million off both sales and profit, but for retail and at wholesale prices combined, sales grew by 17% and the jogging margin expanded from 14% to 15.2%.Gross margin was up 300 basis guidelines, reflecting in part the key benefits of atlas, whilst operating expenses increased as we support the organization in its growth phase.Adjusted paychecks per share rose by 18%, and we've elevated the interim dividend by 17%.Net debt right in the end of september was million, up from your end of march, largely as we increased stock to support growth and reflect changes in our business structure.We've made solid detailed progress.Under our five key enhance your budget themes, at the very first leveraging the franchise, we've seen the runway collection nearly double in the first half and a strong all round play from the london collection.This can be the first produced by the centralized design team under christopher bailey.Within second of our themes, http://www.rajpauljewellers.co.uk/burberry-men/burberry-shirts.html modern non apparel, we're seen continuing success in luxury handbags and shoes accumulate.Markets, as an example.The average unit retail price for handbags is up through 25% year on year, helping to drive store productivity.In third of our themes, speeding up retail led growth, we've opened a further 11 stores and 13 credits in the half.These purchase our new fixtures, which enabled more stock to be held on product sales floor, reducing the time it takes to serve customers, again driving retail sales yields.In all channels and double digit comp growth from our emerging markets, like the middle east.Our franchisees opened an added six stores in the half.From our fifth and final theme, functional excellence, we have continued to invest in the system to support this strong growth.This is in areas such as expanded marketing facilities, the worldwide supply chain, and investing central functions, such design, merchandising and client service.We talked this morning about how we're facing an intense period of activity in the second half http://www.rajpauljewellers.co.uk/burberry-men/burberry-shoes.html and this third quarter get hold of.Ordinary, our greatest quarter, we're experiencing high volume growth whilst in the most demanding phase of sap addition, whilst all at once rapidly evolving our global supply chain and our logistics functions.But as angela said in her quote today, we're excited about our progress in the first half, and the choice and balance we have across products, channels and regions gives us many systems for future growth.Repair, let me hand it back to the operator and we can now take subjects. (Aspects)We have no queries in queue.Thanks to you, all the family, for meeting us.We will enjoy talking to you again when we present on our third quarter results.Thanks significantly.All the same, we view them as substantial resource for bloggers and journalists, and are excited to contribute to the democratization of financial information via the web.All other use is banned.Your data contained here is a textual representation of the applicable company's conference call, conference introduction or other audio pitch, and while efforts are made to provide an accurate transcribing, you can find material errors, omissions, or inaccuracies in the reporting of the substance of the audio shows.In no way does seeking alpha assume any responsibility for any investment or other decisions made based upon the ideas provided on this web site or in any transcript.Users really should review the applicable company's audio presentation itself and the applicable company's sec filings before making any investment or other decisions.

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