H & M Hennes & Mauritz AB (HEN.L,HMSB.DE,HMb.ST) reported that its first quarter profit after tax increased to 704 million Swedish kronor from 579 million kronor, prior year. Earnings per share was 0.45 kronor compared to 0.37 kronor. Operating profit increased by 26 percent to 1.51 billion kronor.
First quarter net sales were 49.6 billion Swedish kronor compared to 55.3 billion kronor, prior year. Sales in local currencies decreased by 1 percent.
On Nasdaq Stockholm, H & M Hennes & Mauritz shares are trading at 165.95 kronor, down 4.9%.
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