Fans of the Burberry fashion brand will soon be able to buy shares in the business, after its owners - the retail-to-business services group GUS - said it was to go ahead with a partial listing on the London Stock Exchange,

The announcement was made as GUS unveiled a 13% increase in pre-tax profits before one-off items of £552m ($806m; 867m euros).

We have in Burberry a very high quality, distinctive, even unique, luxury brand for which there is a significant appetite in the market

Sir Victor Blank GUS

GUS - which also owns Argos and the Experian credit-checking business - said that "subject to market conditions" the prospectus for Burberry would be published in late June.

Trading in the shares is due to start in mid-July.

About 25% of Burberry is expected to be floated, and analysts expect the brand to valued at between £1.2bn and £1.8bn.

Delay

Burberry - famed for the checked fabric on its goods - was originally meant to be floated in June, but tough market conditions have pushed its debut back a month.

There had been speculation that the float could even had been postponed.

Shares in the music retailer HMV fell back after its flotation earlier this month, and the pub group Punch Taverns had to cut its offer price before it floated.

But the chairman of GUS, Sir Victor Blank, told BBC Radio 4's Today programme that it was the right time to float the business.

"We have in Burberry a very high quality, distinctive, even unique, luxury brand for which there is a significant appetite in the market," he said.

Profits up

GUS chief executive John Peace said Argos, Experian and Burberry had all reported record profits.

Operating profits at Burberry rose by 30% to £90.3m last year.

And the Argos chain of catalogue shops also helped to boost GUS' performance with a 27% rise in operating profit to £204m.

Experian's operating profits grew by 6% which GUS said reflected the "difficult market conditions" in the US given last year's economic downturn.