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Burberry profits set to slip

Burberry is expected to report a 7.3% fall in its half-year profits to £434m on Thursday, as the slowdown in China’s luxury market continues to bite.

Despite the fall in profits, the luxury brand is expected to say its revenues have risen slightly by £14m to £1.1bn, thanks to strong sales in Europe, Mexico, Canada, Japan and Brazil, the Daily Express reported this weekend.

Burberry’s chief executive Christopher Bailey was named a patron of Graduate Fashion Week (GFW) in celebration of its 25th anniversary, alongside Victoria Beckham last week.

The luxury brand also announced it is investing £50m in a new manufacturing and weaving factory in Leeds to make its iconic trench coats.

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