Burberry says does not need acquisitions
LONDON (Thomson Financial) - Stacey Cartwright, chief financial officer of Burberry Group Plc, said the luxury brand does not need acquisitions to grow its business. be further continued
‘We’re quite happy with the level of organic opportunities that we have within the business in all of the extended product categories … There’s a lot of opportunity for Burberry to grow under its own steam,’ she told reporters after the group reported year to March 31 2008 results.
She declined to comment when asked if Burberry had received any takeover approaches.
Last month shares in the group rose sharply on market talk of a possible bid from Coach Inc (nyse: COH - news - people ), the U.S. handbag maker.
At 8:20 a.m. shares in Burberry were up 4 pence at 511 pence, valuing the business at 2.2 billion pounds.
james.davey@thomsonreuters.com
jdd/ejp
COPYRIGHT have a short rest
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
Neither the Subscriber nor Thomson Financial News warrants the completeness or accuracy of the Service or the suitability of the Service as a trading aid and neither accepts any liability for losses howsoever incurred. The content on this site, including news, quotes, data and other information, is provided by Thomson Financial News and its third party content providers for your personal information only, and neither Thomson Financial News nor its third party content providers shall be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. have a short rest
Related Topics:
- Rent-a-dog gets chilly London reception
- Burberry coated in glory
- ￡11,000 bags and Sex and the City help Burberry ditch chavsSteve Hawkes
- New stores, handbags boost Burberry’s profit
- Burberry buoyed by markets demand