Britain’s high street may be soggy but high-end trenchcoat maker Burberry is not. The eurozone can melt down, China can slow and rain can fall, but the luxury goods company is as impermeable as its wet-weather gear. Yesterday Burberry reported that revenues and profits before tax for the year to March had both risen by about a quarter. Operating margins widened 80 basis points to 16.4 per cent as brand-conscious customers in the Asia-Pacific region (making up nearly two-fifths of sales) donned its apparel or carried its bags. Burberry’s shift from wholesaler to retailer under chief executive Angela Ahrendts has paid off too: more than two-thirds of sales now come from retail versus two-fifths when she arrived in 2006. Its market capitalisation has even overtaken that of Marks and Spencer, the UK high street store chain.