H & M Hennes & Mauritz AB Three-month report
First quarter (1 December 2015 — 29 February 2016) · The H&M group’s sales including VAT increased by 9 percent in local currencies in the first quarter. Converted into SEK, sales including VAT increased by 8 percent to SEK 50,624 m (46,791). Sales excluding VAT amounted to SEK 43,691 m (40,276). · Gross profit amounted to SEK 22,699 m (22,213). This corresponds to a gross margin of 52.0 percent (55.2). · Profit after financial items amounted to SEK 3,327 m (4,723). The group’s profit after tax amounted to SEK 2,545 m (3,613), corresponding to SEK 1.54 (2.18) per share. Profits