Burberry reports 24% decline in underlying first-half profit

British luxury brand Burberry  reported a 24 percent drop in underlying first-half profit, in line with its expectations, reflecting lower licensing revenue and tougher trading in stores in the United States and Hong Kong. Burberry  reported adjusted pretax profit of 146 million pounds.

Burberry announced a 4 percent drop in half-year sales to 1.16 billion pounds ($1.44 billion) last month as weak demand in some overseas markets offset a surge in sales in its British home as tourists took advantage of a lower pound.

Burberry Christmas window at Harrods

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