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Fashion chain H&M profit rises 28% in first-quarter

Mar '08
Sales excluding VAT for the H&M Group for the first three months of the financial year amounted to SEK 19,742 m (16,772), an increase of 18 percent. In local currencies, the increase was 16 percent and in comparable units 3 percent.

Profit after financial items for the first quarter was SEK 4,057 m (3,411), an increase of 19 percent. Group profit after tax was SEK 2,941 m (2,302), corresponding to SEK 3.55 (2.78) per share, an increase of 28 percent.

Gross profit amounted to SEK 11,770 m (9,876), corresponding to a gross margin of 59.6 percent (58.9).

Operating profit amounted to SEK 3,799 m (3,223). The operating margin was 19.2 percent (19.2).

Hennes & Mauritz AB

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