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 MULBERRY PROFITS HIT WITH STOCK CUTS   
                                        
 Luxury goods firm Mulberry Group said  
 the drive to reduce stocks to more     
 optimum levels would continue to       
 depress profits this year but would    
 have a positive impact next year.      
                                        
 The group said stocks weti approaching 
 optimum levels and at the ind of 1998  
 stood 28% lower than the year before.  
                                        
 The pound's sttingth had hit Mulbjtty, 
 reducing exports and cutting the number
 of tourists in London, it said.        
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