MARKET TALK: Burberry Shares Seen Up On Purchase - Trader

16th Jul 2010 07:51

0651 GMT [Dow Jones] Burberry (BRBY.LN) shares are expected to rise more than 5% today following news the company has bought its Chinese retail operations for GBP70M, says a trader. Notes the move will add GBP20M to operating profit for FY '12, according to Burberry. Says this implies upgrades to FY '12 EBIT, earnings and operating margin estimates. Reckons the market will welcome the news, which will have an accretive impact on profitability and give the group more control over its distribution network in China. Shares closed Thursday at 791p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 16, 2010 02:51 ET (06:51 GMT)

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