STOCKHOLM, Sweden, Jan. 29, 2003 (PRIMEZONE) -- H & M Hennes & Mauritz (Other OTC:HMRZF) (Stockholm:HMb):
-- Group turnover for the year amounted to SEK 53,332 m (46,528)
including VAT, an increase of 15 per cent compared to last year.
With comparable exchange rates, the increase was 14 per cent.
-- Profit after financial items was SEK 8,629 m (5,734), an increase of
50 per cent.
-- Improved profit and operating margin in all markets.
-- Turnover for the fourth quarter increased by 13 per cent (with
comparable exchange rates 15 per cent) and amounted to SEK 15,963 m
(14,172) including VAT.
-- Profit after financial items for the fourth quarter was SEK 3,404 m
(2,356), an increase of 44 per cent.
-- In 2003, 110 stores are planned to open, of which twelve on the new
markets Poland, the Czech Republic and Portugal.
-- Leases have been signed for five stores in Toronto, Canada. The
stores will open in 2004.
-- The Board of Directors proposes a regular dividend of SEK 2.60 (1.75)
per share and in addition a bonus dividend of SEK 3.40 per share, a
total of SEK 6.00 per share.
The Board of Directors
Contact persons:
Carl-Henric Enhorning +46-8-796 5410
Leif Persson +46-8-796 1300
Rolf Eriksen, CEO +46-8-796 5233
Switchboard +46-8-796 5500
Information about H&M and press pictures are available on www.hm.com
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The following files are available for download:
www.waymaker.net/bitonline/2003/01/29/20030128BIT01260/wkr0001.doc
The full report
www.waymaker.net/bitonline/2003/01/29/20030128BIT01260/wkr0002.pdf
The full report