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Hugo Boss proposes higher dividend for 2005
10 Mar '06
2 min read
Fashion group Hugo Boss AG announced that its Supervisory Board and the Managing Board has approved the financial statements for the year and proposed to increase dividend in double-digit to the shareholders.
Based on a successful fiscal 2005 and the positive prospects for the company's future development, the Supervisory Board and the Managing Board of Hugo Boss AG has recommended to increase dividends by 16 cents to €1.00 from €0.84 per common share and €1.01 from €0.85 per preferred share.
Dr Bruno Sälzer, CEO of Hugo Boss, said, “The Hugo Boss group continued growing profitably in fiscal 2005. Our shareholders will therefore benefit from the comparatively high dividend payment this year too.”
The Supervisory Board and the Managing Board approved the financial statements during the meeting. Sales of the Hugo Boss fashion group increased by 12 percent in fiscal 2005, from €1,168.4 million to €1,309.4 million.
The sales increase was also 12 percent when adjusted for currency effects. Earnings before interest and tax (EBIT) grew by 20 percent to €162.9 million from €135.3 million, and net income rose by 23 percent to €108.2 million from €88.2 million.
In all of its segments, the group again grew stronger than the world fashion market in 2005. Boss womenswear in particular has continued its dynamic growth with a sales increase of 38 percent.
Hugo Boss AG has maintained its position as global market leader in the high fashion market for many years.
Hugo Boss products are available throughout the world in 102 countries and more than 5,000 retail shops. These include flagship stores, freestanding stores, shop-in-shops and traveler shops run by franchisees or directly by Hugo Boss.
Based on a successful fiscal 2005 and the positive prospects for the company's future development, the Supervisory Board and the Managing Board of Hugo Boss AG has recommended to increase dividends by 16 cents to €1.00 from €0.84 per common share and €1.01 from €0.85 per preferred share.
Dr Bruno Sälzer, CEO of Hugo Boss, said, “The Hugo Boss group continued growing profitably in fiscal 2005. Our shareholders will therefore benefit from the comparatively high dividend payment this year too.”
The Supervisory Board and the Managing Board approved the financial statements during the meeting. Sales of the Hugo Boss fashion group increased by 12 percent in fiscal 2005, from €1,168.4 million to €1,309.4 million.
The sales increase was also 12 percent when adjusted for currency effects. Earnings before interest and tax (EBIT) grew by 20 percent to €162.9 million from €135.3 million, and net income rose by 23 percent to €108.2 million from €88.2 million.
In all of its segments, the group again grew stronger than the world fashion market in 2005. Boss womenswear in particular has continued its dynamic growth with a sales increase of 38 percent.
Hugo Boss AG has maintained its position as global market leader in the high fashion market for many years.
Hugo Boss products are available throughout the world in 102 countries and more than 5,000 retail shops. These include flagship stores, freestanding stores, shop-in-shops and traveler shops run by franchisees or directly by Hugo Boss.
Hugo Boss AG
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