Shares in Mulberry were up on the FTSE AIM 100 after the maker of luxury handbags reported a strong rise in sales in the six weeks to the 15 January 2011.

Own store sales were up 66 per cent in the period, while like for like sales in Full Price stores increased 70 per cent from the same period in the previous year. Like for like Off Price sales rose 34 per cent.

The group said that its margins in the year to date were strong, thanks in part to a higher proportion of its merchandise being sold at full retail price.

Following its Christmas results Mulberry said that it expected pre-tax profit for the full year ended 31 March 2011 to "exceed market expectations".

By 09:25 shares in Mulberry were up 3.76 per cent on the FTSE AIM 100 to 1,297.00 pence per share.