Burberry has reported that its full year profits rose by 8% to £461 million as the luxury fashion brand continues to build its presence in Japan and accelerates its beauty offering.

In the year to 31 March 2014, revenues increased by 17% to £2.33 billion with comparable sales rising by 12%.

Burberry chief creative and chief executive officer Christopher Bailey said: "Burberry delivered record sales and profit in 2013/14. The strength of this performance reflects sustained strategic focus, continued investment, disciplined execution and outstanding brand momentum during the year.”

By the end of the 2017 financial year, Burberry hopes to increase its revenue in Japan to £100 million and has committed to opening stores in Osaka and in Omotesando and Shinjuku in Tokyo.