Hugo Boss posts 30% profit rise in third quarter

Frankfurt, Nov 2, 2011 (AFP) - German fashion retailer Hugo Boss announced a strong rise in profits in the third quarter of this year, driven by strong demand in all of its main markets.



Hugo Boss
Boss Orange ad

Boss said in a statement its bottom-line profit jumped by 30 percent to 119.7 million euros ($165 million) in the period from July to September on a 14-percent increase in revenue to 615 million euros.

On the basis of the positive third-quarter results, the group was "confident of achieving our full-year sales and profit forecasts," said chief executive Claus-Dietrich Lahrs.

Full-year revenues were set to rise by 15-17 percent, driven primarily by strong growth in China and the United States, and underlying profits would grow by 25-30 percent, Lahrs predicted.

In 2010, the group posted record net profit of 190 million euros, underlying profits of close to 350 million euros and sales of 1.73 billion euros.

Copyright © 2012 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.