Buxton favourite Burberry delivers the goods

Luxury fashion house Burberry Group, a long standing favourite of Schroders' Richard Buxton, has continued to beat market expectations as the group reported a rise in revenue for the first half of the year.

The group's total revenue rose 30% on an underlying basis to £830m, while underlying retail revenue increased 45% to £528m. Buxton holds a 3.62% position in Burberry in his £2.6bn Schroder UK Alpha Plus fund but the stock had a rough ride over the past three months of market upheaval, falling from highs of £16.00 at the end of July. Fears of a slowdown in Chinese demand for luxury goods contributed to the slump as Burberry earns almost a third of its revenue from Asia. However, the group has managed to shrug off these concerns as Chinese consumers continue to back its products and...