Luxury brand Mulberry has announced that it is ahead of its expectations for its full-year profits due to “conscious efforts made to control costs”.

Mulberry said that revenue for the year ended 31st March will be in line with the expected amount of £148 million compared to £163 million the year before.

A contributing factor to the improved retail trading was the introduction of the spring/summer 2015 collection which was in store from November.

Despite the company’s like-for-like sales falling by 13% in the first half, in the second half they increased by 7% making the overall decrease 2% for the full year.

Godfrey Davis, Mulberry chairman said: "The encouraging retail trends over the last five months reflect our reinvigorated product offer and focus upon our customers. We are delighted to have announced the appointment of our new CEO, Thierry Andretta and look forward to the arrival of our new creative director, Johnny Coca, during July.”