Jan 18 - Luxury goods group Burberry forecast year profit at the top end of market hopes after wealthy tourists splashing out on coats and leather goods drove a 27 percent rise in third-quarter revenue.

Burberry Prorsum womenswear catwalk - Spring Summer 2011, London

The 155-year-old maker of raincoats and handbags said on Tuesday that revenue, excluding its restructuring Spanish business, rose to 470 million pounds in the three months to December 31.

That compared with an average forecast of 434 million pounds, according to a company poll of 11 analysts, and 362 million in the 2009 period.

The luxury goods industry has recovered strongly from its worst slump in decades thanks largely to buoyant demand in Asia.

On Monday Swiss luxury goods group Richemont, the world's second-largest luxury goods group behind French rival LVMH, posted a 23 percent rise in third-quarter sales.

Burberry shares have surged 82 percent over the past year, periodically lifted by bid speculation.

The stock was up 3.8 percent at 1,099 pence at 0843 GMT, valuing the business at 4.77 billion pounds.

"The shares deserve a premium as they offer one of the few convincing global growth stories within our universe and continue to compare favourably with the best of the luxury and retail growth stories," said analysts at Investec.

Burberry, best known for its camel, red and black check pattern, said it saw strong consumer demand in both its retail and wholesale divisions, with double-digit growth across all product divisions and particularly strong sales of outerwear and large leather goods.

Retail sales increased 36 percent on a constant currency basis, with comparable store sales growth of 14 percent.

The firm said the Americas, Asia Pacific and Europe all delivered double-digit comparable store sales growth, with particular strength in the UK, France, Hong Kong and Taiwan.

Underlying wholesale revenue rose 15 percent, and the firm raised its guidance for second-half wholesale revenue growth to a "high teens" percentage rise, excluding China.

"As a result, we now expect adjusted profit before tax for the current financial year to be at the top end of market expectations," said chief executive Angela Ahrendts.

Chief financial officer Stacey Cartwright told reporters that prior to the update analysts' forecasts had ranged from 250 million to 290 million pounds.

Ahrendts added that Burberry's ongoing initiatives in retail, digital, product development and new markets underpinned its confidence in the future.

By James Davey
(Editing by Dan Lalor and Will Waterman)