Burberry, the British luxury fashion house based in London, declared that its second half sales figures have dropped because of weak demand in Hong Kong and Continental Europe.
The company had expected these tough conditions in these sector and had predicted that this would effect their profit this year.
Burberry announced a revenue of 1.41 billion pounds ($1.99 billion) till end of March on Thursday. On a bottom line basis, it was down by 1 per cent.
As the company is not very hopeful about gaining profits after looking at the sales figures, it has adjusted profit before tax is broadly in line with analysts’ expectations. It is expected to range from 401 million to 443 million pounds.