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Mulberry expected to report 50% profit rise

Luxury accessories brand and retailer Mulberry is expected to report a 50% surge in profits when it reveals its full-year results later this week.

It is also thought that the Somerset-based handbag brand will map out plans for ambitious overseas growth when it reports its results on Thursday (June 14).

New chief executive Bruno Guillon, who joined Mulberry from Hermes in March, is expected to announce pre-tax profits of £35.4m on sales of £170m for the year to March.

Analysts believe that Mulberry still has potential for growth, driven by international expansion, with some predicting that sales could treble over the next five years to more than £500m.

 The company will open 18 stores this year with plans for new shops in China, South Korea and Japan.  

Godfrey Davis, the former chief executive of the brand will become non-executive chairman later this month.

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