LONDON -- The shares of Burberry (LSE:BRBY) have climbed 3.4% to 1,513 pence as of 8:50 a.m. EDT after the luxury retailer revealed record annual profit and sales.

Burberry, one of the world's foremost luxury fashion brands, reported sales rising 8% to £2 billion. This increase was driven by a 14% boost in Asia-Pacific revenue, predominantly from the company's retail division in China. As a result, almost 40% of Burberry's total sales now come from the Asia-Pacific region, the company's largest geographical segment. Burberry's retail division, meanwhile, has grown to represent 71% of group sales after annual wholesale revenue was broadly flat.

Burberry's normalized pre-tax profit also reached record levels, growing 14% to £428 million. However, the company incurred an £83 million exceptional charge, reflecting the termination of its fragrance license relationship with Inter Parfums in 2012.

In light of these record results, Burberry hiked its full-year dividend by 16% to 29 pence per share.

Giving her outlook for the year, Burberry chief executive Angela Ahrendts said: "Looking ahead, although the macro environment remains uncertain, Burberry is well positioned with opportunity by channel, region and product. Our brand momentum, proven strategies and closely connected global team provide confidence in Burberry's future performance."

With a market cap of £6.5 billion, Burberry is valued at 22 times its expected earnings. After the dividend was lifted today, Burberry's shares offer a trailing yield of 1.9%. Of course, whether that valuation and the prospects for the fashion industry combine to make Burberry a buy is something only you can decide.

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