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H&M scores strong 2007

H&M saw sales rise 15% to SEK 78,346 million (£6.2m) and profits rise 21% to SEK 19,170m (£1.5bn) for the year to November 30.

Like-for-like sales for the period were up 5%.

The company said that sales in December, following the year end, had grown by 10% and that current trading remained strong. Sales up to and including January 29 were up 16%.

H&M will open its first stores in Russia in 2009 and will open franchise stores in Egypt, Saudi Arabia, Bahrain and Oman this year.

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