Losses increase at Mulberry

MULBERRY, the troubled luxury goods group, reported increased first-half losses and scrapped its interim dividend. Founder Roger Saul (pictured) said trading was "as difficult and tough to read as I can remember". Losses rose to pounds 803,000 compared with pounds 722,000 last time.

The company, which has issued a string of profits warning since floating on AIM two years ago, has been hit by the strong pound and a slump in demand from Asian buyers. Like-for-like retail sales are down 5 per cent on last year.