Mulberry reports strong first quarter
Mulberry celebrated its 21st birthday with a promising and improved first quarter of FY2017 despite some strong currency headwinds.
Reported billings for the quarter were up 16% compared to the quarterly average in FY2016 and increased 14.5% compared to the first quarter of FY2016. Net profit before tax in the first quarter of FY2017 also jumped 22% compared the quarterly average for FY2016 and increased 4.75% compared to the same quarter last fiscal year. Each region where the company operates recorded growth in the quarter, while the Mulberry London office provided both the highest sales figures and also the highest growth figures. The biggest month-on-month jump in revenues was achieved by the Mulberry office in Jacksonville, Florida in June 2016.
The impact of new assignments from existing clients and the roll-out of campaigns for recent client wins such as Irish renewable energy company airsynergy and retail tech leader Trace One should also be seen in Mulberry’s second quarter figures while the third quarter is traditionally the biggest grossing for the agency. The July 2016 opening of a new Mulberry in Leiden in the Netherlands is also expected to make a positive contribution in the remainder of the current fiscal year.