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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/mulberry-profits-to-beat-forecasts.jpg"><img class="alignnone size-full" title="Handbag maker Mulberry has said annual profits would beat expectations" src="http://londonglossy.com/wp-content/uploads/2011/01/min-mulberry-profits-to-beat-forecasts.jpg" alt="Handbag maker Mulberry has said annual profits would beat expectations"/></a></p>
<p>Luxury handbag maker Mulberry has said annual profits would beat expectations after a &#8220;very strong&#8221; Christmas.</p>
<p>The group reported a 66% leap in own stores and concession sales, with like-for-like growth of 70% across full price outlets in the six weeks to January 15.</p>
<p>Discount outlet like-for-like sales lifted 34%, according to the group.</p>
<p>Mulberry handbags can sell for as much as £3,000 and include its recently launched Alexa handbag &#8211; named after television presenter Alexa Chung. Other brands include Bayswater, Daria and Mitzy.</p>
<p>The Bath-based group is having to expand its factory by nearly a third to help it meet soaring demand, particularly from international consumers.</p>
<p>It said last month that interim profits trebled to £4.7 million, adding it was unable to match demand in the UK and overseas, with sales to Asia up 180% in the half-year.</p>
<p>Shares in Mulberry rose 5% on Friday&#8217;s full-year profits cheer.</p>
<p>Philip Dorgan, analyst at Mulberry&#8217;s in-house broker Altium Securities, upped his full-year underlying profit forecast from £15 million to £18.5 million for the year to March 31, which would be a three-fold rise on the year before.</p>
<p>Mulberry said profit margins were being helped by a greater proportion of full price sales against a year earlier. It added that wholesale orders for spring 2011 are currently 104% up year-on-year, with three months of the season remaining.</p>
<p>Mulberry has 82 stores and concessions, of which 35 are overseas partner stores. In the UK, it has 21 own-stores and 26 concessions.</p>
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