SWEDEN: H&M Q2 Profits Rocket To $220m
Swedish fashion giant Hennes & Mauritz AB on Wednesday posted a 37 per cent leap in second quarter pre-tax profits to $220 million thanks to strong performances from its US and German markets. The operator of 801 stores in 14 countries said in a statement that total turnover was up 13 per cent while German sales climbed 10 per cent. For the first half, profits jumped 56 per cent to $349m.
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