Mulberry Group Plc. (MUL.L), a British fashion company, announced on Friday that it expects a wider adjusted loss before tax and a decline in revenue for fiscal 2025.
For the 12-month period to March 29, the Group expects an underlying pre-tax loss of 23 million pounds, compared with loss of 22.6 million pounds in 2024. The company anticipates revenue of 120 million pounds, lesser than 152.8 million pounds last year.
In addition, Mulberry Group said that it intends to raise 20 million pounds of additional capital to fund its growth and meet medium term profitability and revenue targets.
For the medium term, the Group aims to post annual revenue of 200 million pounds and earnings before interest and tax margin of 15 percent.
The Board has noted that the Group's major shareholder Challice Ltd. has confirmed that it intends to underwrite the fundraising in full, if required.
As of now, the Board is in talks with Challice and Frasers Group Plc., the second major shareholder, in order to reach a deal on the final structure and terms of the fundraising.
MUL was down by 10.20% at 100 pence on the London Stock Exchange.
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