STOCKHOLM, Sweden, Jan. 29, 2004 (PRIMEZONE) -- H & M Hennes & Mauritz AB: FULL YEAR RESULTS
1 December 2002 to 30 November 2003
-- Group turnover for the year amounted to SEK 56,550 m (53,332) including VAT, an increase of 6 per cent compared to last year. With comparable exchange rates, the increase was 9 per cent. Turnover excluding VAT was SEK 48,238 m (45,522).
-- Profit after financial items was SEK 9,609 m (8,629). Group profit after tax increased by 12 per cent and amounted to SEK 6,386 m (5,687) corresponding to SEK 7.72 (6.87) per share.
-- Operating profit and operating margin has improved further in all markets and are the best the Group has reached.
-- Turnover for the fourth quarter increased by 2 per cent (with
comparable exchange rates 7 per cent) and amounted to SEK
16,316 m (15,963) including VAT. Turnover excluding VAT was
SEK 13,923 m (13,638).
-- Profit after financial items for the fourth quarter was SEK
3,274 m (3,404).
-- Increased expansion. In 2004, 140 stores are planned to open, among those five stores in Canada and two stores on the new market Slovenia.
-- The Board of Directors proposes a regular dividend of SEK 2.90 (2.60) per share and in addition a bonus dividend of SEK 3.10 (3.40) per share, a total of SEK 6.00 (6.00) per share.
Stockholm, 29 January 2004
The Board of Directors
Background information about H&M and press pictures may be found on www.hm.com
H & M Hennes & Mauritz AB (Publ.) Head office -- A7, 106 38 Stockholm Phone: +46-8-24 80 78, Fax: +46-8-24 80 78, E-mail: info.se@hm.com Registered office Stockholm, Reg. No 556042-7220
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