Mulberry, classy handbag manufacturer, disclosed a 22% increase in the full year earnings following robust demand in Asia.

Bath-based Mulberry said that its Asian business has mainly seen healthy growth, with across-the-board profits now anticipated to more than twofold as its collaborators launch stores in Sydney, Hong Kong, Korea, Qatar, Dubai and Kuala Lumpur in the next 12 months.

Revenue before tax rose to £5.1m for the year that ended 31 March 2010 from £4.2m in the preceding year. Sales swelled by 23% to £72.1m through the year.

The Company said that it hopes profits to increase quickly in the next fiscal year.

In February, Mulberry lifted its full earnings prediction for the second time after profuse demand for the Alexa variety. Earlier forecasts for the year had been about £4.5million, but city forecasters had recently shoved the figure nearer to £6m.

Chaiman and Chief Executive, Godfrey Davis remarked, "We have achieved another year of strong sales growth, delivering an increase of 23% for the year. We have started the new financial year strongly. Current indications are that sales will grow more rapidly during the next financial year than the one just ended".

Mulberry said that the prototype of strong business has sustained in the new monetary year with retail sales being 36% up in the first 10 weeks of the new fiscal year with like-for-like increase of 35%.