UPDATE 2-Burberry sales growth stalls in H2

* H2 underlying revenue up 2 percent

* Expects 2008/09 profit in middle of range of market hopes

* Expects H1 2009/10 wholesale revenue down 25 percent

* New banking deal provides 260 million pounds of facilities

LONDON, April 21 - British luxury goods group Burberry said revenue growth slowed in its second-half but it would still meet market expectations for full-year profit.

The 153-year-old maker of upmarket raincoats and handbags said on Tuesday revenue increased 2 percent at constant exchange rates in the six months to March 31.

This compared with first-half and third-quarter growth of 13 percent and 9 percent respectively and analyst forecasts of second-half growth of flat to up 1 percent, implying sales fell sharply in the fourth quarter.

On a reported basis sales increased 21 percent, boosted by a positive foreign currency impact.

"Adjusted profit before tax for full year 2008/09 (is) anticipated to be around the middle of the current range of market expectations," said Burberry.

Analysts were forecasting a consensus pretax profit of about 157 million pounds ($229.3 million), according to Reuters Estimates, down from 195.7 million pounds made in the previous year.

Burberry, known for its camel, red and black check, said retail revenue increased 14 percent in its second half.

Wholesale revenue fell 11 percent in the second half, while licensing revenue was down 13 percent.

Retailers across the world are struggling as consumers cut spending amid fears of a long and deep recession and rising unemployment.

Last week Italian luxury group Bulgari forecast a first-quarter loss..

Last month French luxury group Hermes said trading was holding up well, but LVMH, the world number one luxury group, said sales of watches and jewellery had fallen since the start of the year.

Burberry also provided guidance for the 2009/10 year. It plans to increase selling space by 10 to 12 percent but forecast wholesale revenue would fall by about 25 percent in the first-half and licensing revenue by 10 to 15 percent over the year.

The group added that it has secured a new banking agreement, giving 260 million pounds of facilities which run to 2011 and 2012.

Shares in Burberry have increased in value by 74 percent in the last three months, outperforming the European DJ Stoxx personal and household goods sector by 36 percent.

On Monday they closed down 10 percent at 331 pence, valuing the business at about 1.58 billion pounds. ($1=.6847 pounds)