LONDON: British luxury clothing and accessories group Burberry on Wednesday said its net profits slumped 27.5 percent in the group's first half to £85 million ($136 million, 106 million euros).
Burberry said profit after tax dropped by almost a third in the six months to September 30 compared with net earnings of £117.2 million in the first half of the group's 2011/12 financial year.
The group was hit by a one-off charge of £73.8 million related to the termination of a fragrance and beauty licence deal.
Burberry last month confirmed that it would bring its perfume business totally in-house following the end of a licence relationship with French company Interparfums early next year.
Burberry had meanwhile in September warned that its second-quarter earnings had been impacted amid economic slowdown in key market China. (AFP)
