By Marcus Leach

Luxury fashion brand Burberry have announced year end figures to the end of March showing a 40% increase with profits at £296 million.

The results didn't come as a surprise after the company reported strong annual sales in April.

Despite tough economic times, and low consumer confidence, Burberry have reiterated that they will continue to invest for growth.

It is planning a 12-13% increase in average retail selling space in the coming year, with a bias towards China, Latin America and the Middle East.

“Burberry delivered strong operational and financial progress during the year, thanks to the consistent execution of our core strategies by our team and partners, more closely connecting our brand vision and values to consumers around the world," Angela Ahrendts, Chief Executive Officer, commented.

"While mindful of global macro challenges in the current year, we will continue to invest to drive growth across our portfolio by channel, region and product.”