Burberry reports 'stellar' profits

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Upmarket fashion retailer Burberry has reported strong growth in annual profits as it continues to expand around the world.

Pre-tax profits were up 24% to £366m, with sales also up 24% to £1.86bn.

The company, which has been expanding fast in emerging markets where luxury items are highly sought-after, said the Asia Pacific region accounted for 37% of both retail and wholesale revenue.

However, the company has also been performing well in Europe.

The company's chief executive Angela Ahrendts says this is because they have been focussing on "flagship cities" in the West.

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