StockMarketWire.com - Luxury handbag maker Mulberry reported a deeper first-half loss as sales fell at its UK business.

Pre-tax losses for the six months through 28 September amounted to £10.9m, compared to losses of £8.2m on-year.

Revenue edged up to £68.9m, from £68.3m, with international sales up 12% and UK sales down 4%.

Mulberry had net cash of £6.4m at the end of the reporting period, down from £12.1m on-year.

It said its UK business was impacted by an increasingly promotion-led environment and lower traffic to stores.

However, it said that with the important Christmas trading period ahead, it expected to trade profitably and generate cash during the second half.


At 8:36am: [LON:MUL] Mulberry Group PLC share price was -17.5p at 262.5p



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