H&M finds itself back in fashion with profits rise
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11 April 2012
Fast-fashion chain H&M raised hopes of a turnaround today with a rise in fourth-quarter pre-tax profit that beat expectations.
The company also had a sharp rise in December sales, up 15 per cent against 9.4 per cent.
Pre-tax profit at Hennes & Mauritz in the fourth quarter, which ended on 30 November, was 7.99 billion Swedish krona, versus an average forecast among analysts of Skr6.97 billion and a result of Skr7.11 billion from a year ago.