Burberry’s share price has been recently pressured by the slowdown in China.

Today Burberry Group PLC, famous for its trench coats and cashmere scarves announced its interim trading statement to investors announcing an increase in profits despite “ a challenging environment for luxury”.

The company saw revenue of £1,105 million unchanged year on year, whilst adjusted retail/wholesale profit was up 5% underlying (up 4% at reported FX). Burberry also boosted the stocks interim dividend by 5% to 10.2p per share.

Christopher Bailey, Chief Creative and Chief Executive Officer, commented:

“This robust performance reflects decisive action as the external environment became more challenging in key markets over the period.  We enter the second half mindful of this backdrop, but confident in our strongest-ever festive plans and emphasis on productivity and efficiency.

Beyond these immediate priorities, we remain focused on building Burberry for long-term, sustainable growth and value creation.  In an evolving luxury environment, we see compelling opportunities by channel, region and product, underpinned by the strength and distinctiveness of our authentic British brand.”

In October the company cited a sharp sales slowdown in Hong Kong and China which led them to miss sales growth forecasts and warn of an increasingly challenging environment for luxury goods sales. Today the company said comparable sales whilst volatile since the start of the third quarter have improved overall relative to the second quarter.

In their statement the business highlighted its continued focus on it’s digital innovation strategy after partnering with Snapchat earlier this year allowing the platforms 100 million users to preview their Spring/Summer 2016 womenswear collection whilst also developing online sales.

The company also plans to invest in manufacturing opportunities in Leeds where it will employ more than 1,000 people and spend 50 million pounds on their new manufacturing plant.