Burberry: Asia Pacific President sells 400K pounds-worth of shares

Pascal Perrier has sold 30,000 ordinary shares of 5pence each in Burberry for 1366.8 pence, according a statement issued by the company on Wednesday morning.

Pascal Perrier has sold 30,000 ordinary shares of 5pence each in Burberry for 1366.8 pence, according a statement issued by the company on Wednesday morning.

The sale, which amounts to £410,040, was recorded under the description of a "Person Discharging Managerial Responsibilities".

A current LinkedIn entry describes Pascal as "President Asia Pacific at Burberry" and Pascal is named by the same title in Burberry's 2011/2012 annual report.

Earlier in January, Burberry published its third quarter trading update for the three months to December 31st.

The upbeat results showed total revenue was up 9% to £613m while retail revenue was up 13% to £464m.

The geographical breakdown of business performance in the group for the fiscal third quarter showed a 15% increase in retail and wholesale revenue in Asia Pacific to £242m compared to £210m in the corresponding period in 2011. This represented the largest increase out of all the company's geographical segments.

At that time, Angela Ahrendts, Chief Executive Officer of Burberry, said the increase in group's underlying retail growth in the third quarter had benefited from a particularly strong week in the run up to Christmas.

She additionally stated: "We expect the external global environment to remain challenging, but see continued opportunities to drive productivity in our existing business, while investing for growth in under-penetrated regions, product categories, channels and mediums."

Burberry's share price was down 1.10% to 1,351p at 11:15 on Wednesday morning.

MF

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