Swedish retailer H&M has released its half-year report for the period 1 December 2004 till 31 May 2005. The company has reported that well received collections have contributed to the Group’s best operating margin in a second quarter. Turnover for the H&M group, excluding VAT, amounted to GBP 24,981 million, an increase of 12 per cent. With comparable currency rates, this represents an increase of 13 per cent.
Group profit after estimated tax was GBP 2,923 million, corresponding with GBP 3,53 per share. Turnover for the second quarter, excluding VAT, amounted to GBP 13,225 million, an increase of 17 per cent compared with last year. Turnover for the month of May increased by 18 per cent, with comparable currency rates.
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