Կես տարվա արդյունքներ

Mulberry Group plc

Results for the twenty-six weeks ended 28 September 2024

Focussed on growth and return to profitability

Mulberry Group plc (the "Group" or "Mulberry"), the British sustainable luxury brand, announces unaudited results for the twenty-six weeks ended 28 September 2024 (the "period").

aNDREA BALDo, CHIEF EXECUTIVE OFFICER, COMMENTED:

"Though I've only been in the role of CEO for under three months, the first half results illustrate the clear need to reprioritise and rebuild the business. Mulberry is an iconic brand. It stands out for its rich heritage and craftsmanship - qualities that our customers recognise and value deeply. Combined with our unique position in the market, offering responsible luxury products of unmatched quality and longevity, crafted in our Somerset factories, Mulberry truly is one of a kind. We are now working on initiatives to renew the brand's relevance, initially for UK consumers and then for our international audience.

"In response to current market conditions, we have taken decisive steps to streamline operations, improve margins, reduce working capital, and strengthen our cash position. This has also meant reviewing our internal team structure to ensure we become a leaner, more agile organisation. Additionally, we've made strategic adjustments to our product, pricing, and distribution strategies, and we've begun discussions with luxury wholesale partners to ensure we are present wherever our customers shop.

"There is no question that our industry is facing a period of significant uncertainty, driven by a challenging and volatile macroeconomic environment that is impacting consumer confidence in several markets, particularly in our home country. However, with the teams' efforts on cost-cutting, a strengthened balance sheet, a renewed brand-first approach and a refreshed business strategy-details of which I'll share in due course-I am confident we are making the right moves to bring Mulberry back to profitability."

Ֆինանսական կարևորություններ

·      Group revenue down 19% to £56.1m (2023: £69.7m)

o  UK retail sales decreased 14% to £31.3m (2023: £36.2m)

o  Asia Pacific retail sales decreased by 31% to £9.3m (2023: £13.5m)

o  Total International retail sales decreased 17% to £19.5m (2023: £23.5m), with the reduction in Asia Pacific partially offset by a 2% increase in the Rest of World

·      Gross margin reduced to 67% (2023: 70%) principally due to stock optimisation to manage inventory and working capital levels

·      Operating expenses decreased 16% to £50.7m (2023: £60.0m) as action was taken to manage the cost base

·      Underlying loss before tax of £15.3m (2023: £12.3m)¹ was a result of reduced revenue and margin partially offset by lower operational costs

·      Reported loss before tax of £15.7m (2023: £12.8m)

·      Equity fundraising of £10.4m and increased debt facilities with renegotiated covenants undertaken to strengthen further the Group's balance sheet providing financial flexibility to support management's turnaround plan

Գործառնական ակնարկներ

·      Digital performance continued to be robust, with sales representing 33% of Group revenue (2023: 29%)

o  UK Mulberry.com sales increased by 6% and represented 67% of UK digital revenue (2023: 58%)

·      Full price sales represented 78% of retail sales (2023: 77%), with full price sales in both US and Europe increasing by 9% versus the same period last year

·    Collaborations with Rejina Pyo and Eleventy drove further global awareness of the Mulberry brand

·      Product innovation included the launch of new bags the Soft Bayswater and Islington Bucket bags which have been well received by customers

·      B Corp Certification for sustainability achieved in September 2024

Ընթացիկ առևտուր

·      The wider macro-economic environment, including ongoing inflationary pressures, continues to present uncertainty and challenges

·      We continue to take appropriate cost actions and manage inventory levels to ensure they align with revenue expectations for the remainder of this year and next

·      New CEO's initial review focussed on enhancing operational efficiency and targeted product, pricing and distribution strategies to improve margin and cash position

·      Trading for the full financial year is expected to be weighted towards the second half given the important festive trading period  

ԱՅԼ ՄԱՆՐԱՄԱՍՆԵՐԻ ՀԱՄԱՐ ԿԱՊԵՔ՝

Թութ

Չարլզ Անդերսոն Հեռ՝ +44 (0) 20 7605 6793

Headland (Հասարակայնության հետ կապեր)

Lucy Legh / Joanna clark                                                                                   Tel: +44 (0) 20 3805 4822

[էլեկտրոնային փոստով պաշտպանված] 

HOULIHAN LOKEY UK LIMITED (Ֆինանսական խորհրդատու և քոչվոր)

Tim Richardson Հեռ.՝ +44 (0) 20 7389 3355

PEEL HUNT (CORPORATE BROKER)

JAMES THOMLINSON                                                                                                                               ՀԵԼ՝ +44 (0) 20 7419 8900

Նշումներ

1 See note 2 on pages 16 and 17 for more details of alternative performance measures and one-off costs

2 Net borrowings comprises cash balances of £8.8m (2023: £5.9m) less bank borrowings of £25.2m (2023: £19.5m), which excludes related parties and non-controlling interest of £7.8m (2023: £4.5m)

ՆԿԱՐԱԳՐՈՒԹՅՈՒՆ 

Trading during the twenty-six weeks ended 28 September 2024 was challenging as the previously highlighted difficult trading environment and uncertain macroeconomic trends continued to impact the Group. Action has been and continues to be taken to reduce operating expenses as well as to optimise inventory levels and better manage working capital. An equity fundraising of c £10m (net) was undertaken at the end of the period which, along with increased debt facilities with renegotiated covenants, strengthened further the Group's balance sheet in light of the current trading environment and provides financial flexibility to support management's drive to return the Group to profitability.

Group revenues declined 19% over the period, with a reduction in gross margin to 66.5% (2023: 70.4%) principally due to stock optimisation to manage inventory and working capital levels. The lower revenue and margins resulted in an increased underlying loss before tax of £15.3m for the period (2023: £12.3m), partially offset by lower operating costs, reflecting cost actions taken before the start of the financial year. We ended the period with net borrowings of £16.4m² (2023 թ. ՝ 13.5 մլն ֆունտ)

The UK remains our largest market, and it continued to be affected by low consumer confidence. UK revenue for the period was 14% below the same period last year, with store revenues down 17%.

International retail sales represented 38% of our total retail sales in the period (2023: 39%). In Asia Pacific, retail sales declined 31% to £9.3m (2023: £13.5m) predominantly due to the continued challenging macro-economic climate in China and South Korea, with retail sales down 52% and 29% respectively. However, retail sales in Australia were up 3% on the same period last year.

Franchise and Wholesale revenue declined by 46% to £5.4m (2023: £10.0m) with declines across all countries as wholesale and franchise partners placed lower orders due to the macroeconomic conditions , particularly Italy and Denmark.

Collaborations in the period included those with luxury Italian fashion brand Eleventy in July and South Korean designer Regina Pyo in September. The Regina Pyo collection, inspired by our Blenheim bag family's archives and given a modern twist, proved popular with a broad range of customers. Meanwhile, new bags launched in the period included the Soft Bayswater, recognising the trend to a more minimalistic design and silhouette, and the Islington Bucket, both launched in April.

Sustainability and circularity continue to be central to Mulberry's business model and on 17 September we were pleased to announce our B Corp Certification. This is a significant milestone in our road towards a regenerative and circular business model, validating our purpose-led approach to progressive British luxury.

Տախտակի փոփոխություններ

Գլխավոր գործադիր տնօրենի նշանակում

On 1 September 2024, Andrea Baldo joined the Board as Chief Executive Officer. He brought with him significant international fashion expertise, creativity and strategic thinking, having worked with luxury brands including Maison Martin Margiela, Marni and most recently as CEO of Ganni.

ՌԱԶՄԱՎԱՐՈՒԹՅԱՆ ԹԱՐՄԱՑՈՒՄ

Since joining the Group, Andrea Baldo has been working on a review of strategy. His immediate focus has been and will continue to be, on reprioritising and rebuilding Mulberry. Steps have already been taken to streamline operations to improve margins, and to ensure teams are well-positioned to work effectively and with agility. Additionally, adjustments have been made to product, pricing, and distribution strategies, and discussions with potential wholesale partners have been commenced to make sure Mulberry is present wherever our customers shop. The strategic review will be concluded in December and the date for its announcement will be made in due course.

ԸՆԹԱԻԿ ԱՌԵՎՏՈՒՐ ԵՎ ԱՇԽԱՏԱՆՔ

The wider macro-economic environment, including ongoing inflationary pressures, continues to present uncertainty and challenges. In response, we continue to review our cost base and are taking further action to align it with revenues for the remainder of this year and next. Trading for the full financial year is expected to be weighted towards the second half given the important festive trading period.

Mulberry is a much loved British icon with a rich heritage. While delivery of the Board's strategic goals of becoming a global luxury brand, pursuing international retail expansion, and big product launches has been hampered by the ongoing challenging trading conditions, the Board is convinced there is a clear path back to profitability over time driven by Andrea Baldo's focus on improving operational flexibility to ensure we can always act with agility and pace. The capital raising announced at the end of the period provides the Group with additional financial flexibility to support this.  

Ֆինանսական վերանայում

Կորուստ նախքան հարկումը

The table above summarises the Group Income Statement, showing the reported loss before tax for the period of £15.7m (2023: £12.8m). Further details are discussed within this Financial Review.

The table above shows the reconciliation from the reported loss before tax in the period of £15.7m (2023: £12.8m) to the underlying loss.

The Group's underlying loss for the period of £15.3m (2023: £12.3m), was a result of reduced revenue and margin, partially offset with lower operational costs. The operating expenses table within this financial review shows the operational costs decrease of £9.3m to £50.7m for the period (2023: £60.0m). Underlying operating expenses decreased by £8.1m to £47.0m (2023: £55.1m).

Reported loss before tax for the period of £15.7m (2023: £12.8m), includes adjusting items of a net credit of £0.8m (2023: charge £0.5m) for the closure of one retail store, UK head office restructuring costs of £0.8m (2023: nil) and strategic project costs of £0.4m (2023: nil).

Խմբի եկամուտը

Revenue analysis for the 26 weeks ended 28 September 2024 compared to the same period last year is as follows:

Group revenue decreased by 19% in the period, with a decline in both Q1 (-16%) and Q2 (-24%) on the same period last year. During Q2, trade continued to face challenges within all regions, as uncertain macroeconomic trends continued.

Retail omni-channel sales reduced by 15% in the period with declines across all regions. UK total retail sales decreased by 14%. Full price sales in the UK decreased by 13% to £24.3m (2023: £27.9m) with the full price mix unchanged at 77% (2023: 77%). UK store sales declined 17% against the prior period, however average transaction value increased by 9%. UK digital sales were down 8% on the prior period, however average transaction value increased by 1% compared to the prior period and represented 38% of total UK retail sales (2023: 35%).

Asia Pacific retail revenue decreased 31% compared to the same period last year. China and Korea saw the largest declines at 52% and 29% respectfully, with the challenging economic environment and reduced footfall impacting all markets. A detailed strategic review is currently in progress.

Rest of World retail revenue, which includes Europe and the US, increased 2%. Ireland store sales increased by 8% as a result of Brown Thomas which has converted toa retail concession, having previously been classified within Wholesale. Retail sales in Italy increased by 51%, driven by the pop up in The Mall, Leccio, which opened in May 23.

Franchise and wholesale sales decreased by 46%, with declines across all countries as wholesale and franchise partners have placed lower orders due to the macroeconomic conditions, particularly in Italy and Denmark. The prior period also included wholesale orders for Brown Thomas, which has since converted to a retail concession and a one-off collaboration with the British designer, Paul Smith.

Համախառն մարժա

Gross margin during the period was 66.5% (2023: 70.4%), resulting in a 24% fall in gross profit relative to the prior period. This was predominantly due to stock optimisation to manage inventory and working capital levels, along with promotional activity earlier in the period when compared to the prior period and some reductions in the recommended retail price of some product lines.  

Այլ գործառնական ծախսեր

Operating expenses decreased by 16% to £50.7m (2023: £60.0m) and underlying operating expenses decreased by 15%.

During the period we have taken further cost actions in light of the uncertain trading conditions, with more anticipated in the second half of the current financial period, as the wider economic challenges and uncertainty continue and we build the Group back to profitability.

In light of the March 2021 IFRIC agenda decision to clarify the treatment of Software as a Service (SaaS) costs, during the period we expensed £0.8m (2023: £3.3m) of SaaS costs which would previously have been capitalised, in line with the accounting for configuration and customisation cost arrangements. We expect to incur further SaaS costs in the second half.

հարկում

The Group reported a tax charge for the period of £0.4m (2023: £0.6m.) This relates to prior and current period current tax charges.

Հաշվեկշիռ

Net working capital, which comprises inventories, trade and other receivables and trade and other payables decreased by £23.7m to £10.9m at the period end (2023: £34.6m). This decrease was driven by a reduction in inventories of £20.2m, as a result of optimisation of inventory levels.  We have been managing stock levels in light of the ongoing macro-economic uncertainty and cost increases.

At the period end, other trade receivables had decreased by £2.2m, principally due to lower wholesale sales in the period. The increase in other trade payables of £1.3m is due to the timing of payments at the period end date.

Lease liabilities (current and non-current) reduced by £7.6m to £45.4m (2023: £53.0m) due to the release of regular lease payments made in the period.

Դրամական հոսք

The net increase in cash and cash equivalents of £1.7m (2023: decrease of £0.9m) included a £2.5m drawdown of the Group's revolving credit facility (RCF) and £1.3m utilisation of a new supplier trade finance facility shown within proceeds from net borrowings.

As a result of the financial performance in the period there was an operating cash outflow of £7.0m (2023: outflow £8.0m). This cash outflow has been offset by a decrease in net working capital which had a cash benefit of £15.7m largely driven by the reduction in inventories of £20.2m as a result of the stock optimisation program.

During the period we continued to invest, including £1.9m (2023: £5.3m) of capital expenditure and £0.8m (2023: £3.3m) of SaaS costs shown within operating costs. This spend supports investment in our omni-channel distribution and international development, including the upgrade of our warehouse management systems and business planning tool, however, in light of trade during the period the level of investment has been managed.

Փոխառու միջոցներ

The Group had bank borrowings relating to drawdowns under its RCF of £17.5m at 28 September 2024 (2023: £13.0m). The borrowings shown in the balance sheet also include loans from minority shareholders in the Chinese subsidiary of £7.8m (2023: £4.5m), supplier trade finance of £1.3m (2023: nil) and an overdraft of £6.4m (2023: £6.5m).

The Group's net debt balance (comprising cash and cash equivalents, less overdrafts and borrowings) at 28 September 2024 was £16.4m (2023: net debt of £13.5m), with available liquidity of £5.7m. Net debt comprises cash balances of £8.8m (2023: £5.9m) less bank borrowings of £25.2m (2023: £19.4m), excluding loans from related parties and non-controlling interests of £7.8m (2023: £4.5m). Net debt also excludes lease liabilities of £45.4m (2023: £53.0m) which are not considered to be core borrowings.

During the period the Group has amended its' RCF increasing the available funds from £15.0m to £17.5m and re-negotiated covenants to reflect the current trading environment. The facility continues to run until 30 September 2027 with security granted in favour of its lender. The Group also signed a new £6.0m supplier trade finance facility which is backed by UK Export Finance. In addition, the Group continues to have a £4.0m overdraft facility in the UK and a $0.5m overdraft facility in Australia, which are renewed annually.

Significant transactions in the period

Subscription of new ordinary shares;

On 27 September 2024, the Company announced a subscription for 10,000,000 new ordinary shares at 100 pence per share by Challice Limited, the majority shareholder of Mulberry, to raise approximately £10m in order to strengthen the Group's balance sheet. Further details of the subscription are set out in the Company's announcement. On 3 October 2024 the Group announced that Frasers Group plc had successfully applied to subscribe for 39.61% of those shares. These new ordinary shares were admitted to trading on AIM and the subscription was completed on 4 November 2024. 

Also on 27 September 2024, the Group announced a separate retail offer to qualifying Mulberry shareholders of up to 750,000 new ordinary shares at 100 pence per share. When the retail offer closed on 4 October 2024, applications had been received for 392,013 new ordinary shares, which were admitted to trading on AIM, and the retail offer completed, on 9 November 2024.

The net proceeds of the subscription and retail offer will be used to strengthen the Group's balance sheet and provide financial flexibility to support plans being developed by Andrea Baldo, Chief Executive Officer, and the management team to return the business to profitability and support future growth.

Համախմբված եկամուտների հայտարարագիր

26 WEEKS ENDED 28 SEPTEMBER 2024

Բոլոր գործողությունները բխում են շարունակական գործողություններից:

* In order to be consistent with the full year treatment of fixed production overheads, reported cost of sales for the period ending 30 September 2023 have reduced by £1.1m with a corresponding increase in other operating expenses. The reported loss for the period remains unchanged.                                                 

Համապարփակ եկամտի համախմբված հայտարարություն

26 WEEKS ENDED 28 SEPTEMBER 2024

Համախմբված հաշվեկշիռ

28 ԹՎԱԿԱՆԻ ՍԵՊՏԵՄԲԵՐԻ 2024-ԻՆ

ՀԱՍԱՐԱԿԱԿԱՆ ԻՐԱՎՈՒՆՔԻ ՓՈՓՈԽՈՒԹՅՈՒՆՆԵՐԻ ԳԻՏԱՈՈՎ

26 WEEKS ENDED 28 SEPTEMBER 2024

Համախմբված կանխիկ հոսքի հայտարարություն

26 WEEKS ENDED 28 SEPTEMBER 2024

Ծանոթագրություններ խտացված ֆինանսական հաշվետվություններին

26 WEEKS ENDED 28 SEPTEMBER 2024

1. ԸՆԴՀԱՆՈՒՐ ՏԵՂԵԿԱՏՎՈՒԹՅՈՒՆ

Mulberry Group plc is a company incorporated in the United Kingdom under the Companies Act 2006.  The half year results and condensed consolidated financial statements for the 26 weeks ended 28 September 2024 (the interim financial statements) comprise the results for the Company and its subsidiaries (together referred to as the Group) and the Group's interest in associates. The interim financial statements for the 26 weeks ended 28 September 2024 have not been reviewed or audited.

The information for the 52 weeks ended 30 March 2024 does not constitute statutory accounts as defined in section 434 of the Companies Act 2006.  The statutory accounts for that period were approved by the Board of Directors on 27 September 2024 and have been filed with the Registrar of Companies.  The auditor's report on those statutory accounts was not qualified, although included an emphasis of matter in respect of material uncertainty around going concern and did not contain statements under section 498(2) (3) of the Companies Act 2006. The report stated that should there be an extreme and prolonged decline in trading performance which is over and above the current trading levels and the level of mitigating actions including promotional activity was not achieved, then the Group would breach its covenants during the going concern period. This would give rise to a material uncertainty, which may cast significant doubt on the Group and parent company's ability to continue as a going concern, meaning it may be unable to realise its assets and discharge its liabilities in the normal course of business.

2. ՀԱՇՎԱՊԱՀԱԿԱՆ ՔԱՂԱՔԱԿԱՆՈՒԹՅՈՒՆ ԵՎ ՊԱՏՐԱՍՏՄԱՆ ՀԻՄՔՆԵՐ

The accounting policies and methods of computation followed in the interim financial statements are consistent with those published in the Group's Annual Report and Financial Statements for the 52 weeks ended 30 March 2024.

These condensed consolidated interim financial statements for the 26 weeks ended 28 September 2024 have been prepared in accordance with IAS 34 'Interim Financial Reporting' as adopted by the European Union. This report should be read in conjunction with the Group's financial statements for the 52 weeks ended 30 March 2024, which have been prepared in accordance with UK-adopted International Financial Reporting Standards in conformity with the requirements of the Companies Act 2006.

Տարեկան հաշվետվությունը և ֆինանսական հաշվետվությունները հասանելի են Խմբի կայքէջից (www.mulberry.com) կամ Ընկերության քարտուղարից՝ Ընկերության գրանցված գրասենյակում՝ The Rookery, Chilcompton, Bath, England, BA3 4EH:

ՔՆՆԱԴԱՏԱԿԱՆ ՀԱՇՎԱՊԱՀԱԿԱՆ ԴԱՏՈՂՈՒԹՅՈՒՆՆԵՐ ԵՎ ԳՆԱՀԱՏԱԿԱՆ ԱՆՈՍՏԻՉՈՒԹՅԱՆ ՀԻՄՆԱԿԱՆ ԱՂԲՅՈՒՐՆԵՐ

Համախմբված միջանկյալ ֆինանսական հաշվետվությունների պատրաստումը Տնօրեններից պահանջում է կատարել որոշակի գնահատումներ և դատողություններ, որոնք ազդում են հաշվետու եկամուտների, ծախսերի, ակտիվների և պարտավորությունների չափման վրա:

The critical accounting judgements and key sources of estimation uncertainty applied in the preparation of the condensed consolidated interim financial statements are consistent with those described on pages 74-75 of the Group's Annual Report and Financial Statements for the 52 weeks ended 30 March 2024.  

ՍԿINԲԵՆԱԿԱՆ ՌԻՍԿԵՐ ԵՎ ԱՆԳՈՐՈԹՅՈՆՆԵՐ

The management of the business and the execution of the Group's growth strategies are subject to a number of risks and uncertainties that could adversely affect the Group's future development. The principal risks and uncertainties for the Group and the key mitigating actions used to address them are consistent with those outlined on pages 27-31 of the Group's Annual Report and Financial Statements for the 52 weeks ended 30 March 2024.

ՓՈՓՈԽԱԴՐՈԹՅԱՆ ԿԱՏԱՐՄԱՆ ՄԻASՈՆԵՐ

In reporting financial information, the Group presents an APMs, which is not defined or specified under the requirements of IFRS. The Group believes that these APMs, which are not considered to be a substitute for, or superior to, IFRS measures, provide stakeholders with additional helpful information on the performance of the business. These APMs are consistent with how the business performance is planned and reported within the internal management reporting to the Board of Directors. Some of these measures are also used for the purpose of setting remuneration targets.

The Group makes certain adjustments to the statutory profit or loss measures in order to derive the APMs. Adjusting items are those items which, in the opinion of the Directors, should be excluded in order to provide a consistent and comparable view of the performance of the Group's ongoing business. Generally, this will include those items that are largely one-off and material in nature as well as income or expenses relating to acquisitions or disposals of businesses or other transactions of a similar nature. Treatment as an adjusting item provides stakeholders with additional useful information to assess the year-on-year trading performance of the Group. 

A reconciliation of reported (loss)/profit before tax to underlying loss before tax is set out below:

3. ՄՏԱՀՈԳՈՒԹՅՈՒՆ

In determining whether the Group's accounts can be prepared on a going concern basis, the Directors considered the Group's business activities and cash requirements together with factors likely to affect its performance and financial position. The Group's net debt balance (comprising cash and cash equivalents, less overdrafts and borrowings) at 28 September 2024 was £16.4m (2023: net debt of £13.5m). Net debt comprises cash balances of £8.8m (2023: £5.9m) less bank borrowings of £25.2m (2023: £19.4m), excluding loans from related parties and non-controlling interests of £7.8m (2023: £4.5m).

The Group's full year financial statements for the period ended 30 March 2024 were announced on 27^th September 2024 and the Directors concluded that there were adequate resources for the Group to continue as a going concern for the foreseeable future. However, should there be an extreme and prolonged decline in trading performance which is over and above the current trading levels and the level of mitigating actions including promotional activity was not achieved, then the Group would breach its covenants during the going concern period. This gave rise to a material uncertainty, which cast significant doubt on the Group and parent company's ability to continue as a going concern, meaning it may be unable to realise its assets and discharge its liabilities in the normal course of business. The Directors have continued to review the 12-month forecasts including their resilience in the face of possible downside scenarios.

Ելնելով վերը նկարագրված գնահատականից՝ Տնօրենները ողջամիտ ակնկալիք ունեն, որ Խումբը հասանելի է համապատասխան ռեսուրսներին, որոնք հնարավորություն կտան նրան շարունակել գործել որպես շարունակական գործունեություն տեսանելի ապագայում: Այս պատճառներով Տնօրենները նպատակահարմար են գտնում, որ Խումբը շարունակի կիրառել հաշվապահական հաշվառման շարունակականության հիմունքը՝ միջանկյալ հաշվետվության և ֆինանսական հաշվետվությունների պատրաստման ժամանակ:

4. ՀԱՐԿՈՄ

The tax charge relates to prior period and current period current tax charges. 

5. ՄԵԿ բաժնետոմսի շահույթ («EPS»)

Մեկ բաժնետոմսի հաշվով շահույթը հաշվարկվում է հետևյալ տվյալների հիման վրա.

*Այս ապրանքները ներառված են առանց հարկերի

Ժամանակահատվածի ընթացքում թողարկված սովորական բաժնետոմսերի միջին կշռված թիվը բացառում է աշխատողների բաժնետոմսերի վստահությունը:

6. ԲԻԶՆԵՍ ԵՎ ԱՇԽԱՐՀԱԳՐԱԿԱՆ ՀԱՏՎԱԾՆԵՐ

ՖՀՄՍ 8-ը պահանջում է գործառնական սեգմենտների նույնականացում Խմբի բաղադրիչների վերաբերյալ ներքին հաշվետվությունների հիման վրա, որոնք կանոնավոր կերպով վերանայվում են Գլխավոր գործառնական որոշումներ կայացնողի («CODM») կողմից, որը սահմանված է որպես Տնօրենների խորհուրդ, սեգմենտներին ռեսուրսներ բաշխելու և գնահատել դրանց կատարումը. Միջսեգմենտային գները որոշվում են ձեռքի երկարության սկզբունքով: Խումբը ներկայացնում է նաև վերլուծություններ ըստ աշխարհագրական նպատակակետի և ապրանքների կատեգորիաների:

a)     Business segment

The Group continues to extend its omni-channel network in order to support the Group's global growth ambitions. Mulberry has thus become increasingly reliant on individual market-level profitability metrics to enable them to make timely market-centric decisions that are operational and investment in nature. It is therefore appropriate for the segmental analysis disclosures to be a regional view of segments (being UK, Asia Pacific and Other International) to reflect the current business operations and the way the business internally reports and the information that the CODM reviews and makes strategic decisions based on its financial results.

Հիմնական գործունեությունը հետևյալն է.

·      Հաշվետու սեգմենտի հաշվապահական հաշվառման քաղաքականությունը նույնն է, ինչ նկարագրված է Խմբի ֆինանսական հաշվետվություններում: Հաշվետու հատվածի արդյունքների վերաբերյալ տեղեկատվությունը ներկայացված է ստորև: Սեգմենտի կատարողականը գնահատվում է գործառնական շահույթի/(վնասի) հիման վրա:

·      Խումբը նախագծում, արտադրում և կառավարում է Mulberry ապրանքանիշը սեգմենտի համար, և, հետևաբար, ֆինանսական եկամուտներն ու ծախսերը վերագրելի չեն հաշվետու հատվածներին:

Խմբի եկամուտների հայտարարագիր

26 WEEKS ENDED 28 SEPTEMBER 2024