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Soaring sales are in the bag at Burberry

Burberry's global retail sales rocketed by 24% in the three months to March, with total underlying sales for the year up 15% to £850 million. Wholesale also gathered pace in the second half, with underlying revenues rising 17% to £172m. Licensing sales were up 15% to £435m. Burberry is likely to focus on growing its high-margin accessories arm, which accounts for 26% of total sales. The closure of its Welsh factory cost the group £6.5m this year, but will save it £1.5m annually.