BERLIN (dpa-AFX) - German fashion and lifestyle house Hugo Boss AG (HUGSF.PK) Thursday reported a 67 percent increase in fourth-quarter profit, as sales grew 18 percent, helped by double-digit increases in all regions and a significant growth in its own retail business.
Announcing its preliminary results, the company said its consolidated net income attributable to shareholders in the fourth quarter increased to 53 million euros from 32 million euros in the previous year.
Excluding special items, EBITDA rose 26 percent to 97 million euros.
Group sales for the quarter increased 18 percent to 499 million euros from 422 million euros reported last year. Sales were up 17 percent after adjustment for currency effects. The company attributed the growth in sales to double-digit increases in all regions and significant growth in its own retail business.
Gross profit margin improved 240 basis points to 66.2 percent from 63.8 percent in the preceding year.
For the full year, net income attributable to shareholders increased 53 percent to 284 million euros from 186 million euros in the previous year. Excluding special items, EBITDA improved 34 percent to 469 million euros. On a preliminary basis, sales for the full year grew 19 percent on a currency-neutral basis and in the reporting currency to 2.06 billion euros from 1.73 billion euros last year.
Claus-Dietrich Lahrs, CEO of the company said, '2011 was another record year for Hugo Boss. And 2012 has also got off to a good start for us. I am therefore confident, despite the uncertain economic environment, that we will take another big step towards achieving our medium-term goals in the current fiscal year.'
The company said it will publish its audited results for fiscal year 2011 and the outlook for 2012 on March 14.
In Frankfurt's Xetra, Hugo Boss shares are currently trading at 78.67 euros, up 2.46 percent, on a volume of 86 thousand shares.
Copyright RTT News/dpa-AFX
