H&M reports profit and turnover increase in 2019

Net sales at H&M Hennes & Mauritz AB increased by 9 percent to 61,694 million Swedish krona (6,399 million dollars) in the fourth quarter, while in local currencies net sales increased by 5 percent. The company said in a statement that net sales in the financial year 2018/2019 increased by 11 percent and amounted to 232,755 million Swedish krona (24,138 million dollars), while in local currencies the increase was 6 percent. Gross profit increased to 33,287 million Swedish krona (3,452 million dollars) in the fourth quarter, corresponding to a gross margin of 54 percent, while for the financial year, gross profit increased to 122,453 million Swedish krona (12,699 million dollars), corresponding to a gross margin of 52.6 percent. Profit after financial items increased by 24 percent to 5,403 million Swedish krona (560.3 million dollars) in the fourth quarter, while for the full-year, increase was 11 percent to 17,391 million Swedish krona (1,803.6 million dollars).