STOCKHOLM (dpa-AFX) - Swedish clothing major Hennes & Mauritz AB or H&M
Group (HNNMY.PK, HMRZF.PK, HEN.L) reported Thursday that its second-quarter
profit attributable to shareholders climbed to 5.01 billion Swedish kronor from
last year's 3.30 billion kronor.

Earnings per share grew to 3.11 kronor from 2.02 kronor a year ago.

Operating profit increased to 7.10 billion kronor from last year's 4.74 billion
kronor, corresponding to an operating margin of 11.9 percent, up from 8.2
percent last year.

Adjusted operating profit amounted to 7.20 billion kronor, compared to 4.67
billion krono last year, corresponding to an adjusted operating margin of 12.2
percent, compared to 8.1 percent a year ago.

H&M group's net sales increased 3 percent in the second quarter to 59.61 billion
kronor from prior year's 57.62 billion kronor. In local currencies, net sales
increased by 3 percent.

Looking ahead, the company said sales for the month of June 2024 are expected to
decrease by 6 percent in local currencies, from last year's strong comparative
figures.

According to the firm, the unstable weather in many of the H&M group's large
markets at the start of June 2024 had a negative impact on sales, but sales
recovered as the weather normalised at the end of the month.

Daniel Erver, CEO, said the company sees good conditions for continued
profitable, long-term and sustainable growth.

For more earnings news, earnings calendar, and earnings for stocks, visit
rttnews.com.



Copyright(c) 2024 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX