Sector movers: Burberry results lift personal goods sector higher

17th Apr 2013 15:13

Decent gains for heavyweight luxury brand Burberry ensured that the personal goods sector was the best performing category of the day on Wednesday.The iconic British high-end designer reported a 9.0% underlying rise in revenues to £1,116m in the second half, helped by a strong performance in its Retail division which now accounts for 75% of total group sales (65% in the first half).Retail revenues rose 13% year-on-year with the key Asia Pacific region leading the way, especially Greater China. Burberry said that it saw double-digit growth in all four product divisions in Retail while outerwear, mens and digital all outperformed. Analysts at Nomura said that organic sales growth in the fourth quarter, particularly in Retail, was better than its peers."We believe Burberry continues to execute well, driving improved conversion, further elevating the brand and improving average unit retail selling price."The stock was up 3.79% at 1,314p in afternoon trade. Elsewhere in the sector, jewellery group Theo Fennell and High Street retailer SuperGroup were also making slight gains.Top performing sectors so far todayPersonal Goods 20,980.26 +2.99%Gas, Water & Multiutilities 5,928.14 +1.13%Beverages 14,899.71 +1.07%Electricity 9,683.02 +0.96%Technology Hardware & Equipment 1,052.89 +0.81%Bottom performing sectors so far todayIndustrial Metals & Mining 1,704.33 -5.35%Forestry & Paper 9,004.86 -2.85%Mining 16,133.00 -2.68%Food & Drug Retailers 4,590.44 -2.05%Health Care Equipment & Services 4,077.33 -1.89%BC