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Sales and profits soar at Amazon

Amazon’s net profits for the three months to 30 June hit $2.5bn (£1.9bn), a 12-fold increase on its profits for the same period in 2017.

It is the first time the etailer’s quarterly profits broke the $2bn mark.

Net sales were up 39% to $52.89bn (£40.3bn), driven by higher demand for its cloud services.

The business said it “continues to invest heavily in new jobs” in the UK.

The business announced plans to create 2,500 new jobs in the UK this year, bringing the total permanent workforce in the UK to more than 27,500.

During the period Amazon launched its new own brand womenswear label Truth & Fable and ”essentialwear” label called Meraki.

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