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H&M Group Q3 Profit Rises; Proposes Dividend - Quick Facts

The H&M group (HNNMY.PK,HMRZF.PK,HEN.L) said it recorded increased profitability in third quarter mainly due to well-received collections with more full-price sales, lower markdowns and good cost control. Net sales in local currencies increased by 14 percent in the quarter. Excluding Asia and Oceania, sales in local currencies were back at the same level as before the pandemic, the Group noted.

For the third quarter, profit increased to 4.69 billion Swedish kronor from 1.82 billion kronor, previous year. Earnings per share was 2.83 kronor compared to 1.10 kronor. Net sales were up 9 percent to 55.58 billion kronor compared to 50.87 billion kronor, last year.

The H&M group said sales in September 2021 were slightly higher than in the corresponding month the previous year in local currencies, even though demand was not able to be fully met because of disruption and delays in product flow.

The board proposed a cash dividend of 6.50 kronor per share. The extraordinary general meeting will be held on 28 October 2021. The dividend is anticipated to be paid out by Euroclear Sweden AB on 4 November.

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