BERLIN (dpa-AFX) - German clothing maker Hugo Boss AG (HUGSF.PK) reported a 20 percent increase in its net profit for the second quarter, on 5 percent sales growth year-over-year. In addition, the company backed its full-year outlook.
Net income attributable to equity holders of the parent company rose 20 percent to 62.5 million euros from 52.2 million euros last year. Earnings per share grew to 0.90 euros from 0.76 euros in the prior-year quarter.
Earning before interest, taxes or EBIT or operating result was up by 10 percent to 82.9 million euros from 75.6 million euros last year.
For the quarter, HUGO BOSS group sales rose 5 percent to 558.9 million euros from 531.7 million euros a year ago.
Commenting on the results,Claus-Dietrich Lahrs, CEO of HUGO BOSS said: 'Our consistently strong growth in Europe and our upturn in the Americas form the basis of these very solid quarterly results.'
Looking forward, for fiscal 2014, the company still expects to achieve high single-digit sales growth after adjustment for currency effects, high single-digit increase in operating result and to post stronger growth than in the previous year.
Copyright RTT News/dpa-AFX