Tourists help boost Burberry sales 14%

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The luxury goods house has seen double-digit sales growth in the capital in the last few months, enabling it to shrug off the strife in the retail sector.

Sales in its own stores were up 14% in the six months to the end of March, leaving it on track to make full-year profits of around £180 million. It has also paid down about £100 million worth of borrowings.

Finance director Stacey Cartwright: "There's been a stronger performance in retail than most people were expecting. We are trading a little better than we thought and London is very strong."

Government ministers have lately been insisting that the slump in sterling would help the UK move out of recession. Burberry's numbers suggest they may have a point.

Shares in the company jumped 291/2p to 361p as the City analysed the news.

The wholesale arm has been less bullish. Revenue is down 11%, with Spain a continuing bugbear.