H&M reported a 20% rise in third-quarter profit with strong August sales offset by rising costs that ate into gross margins. In the quarter ended August 31, profit after tax was Skr4.24bn (£367m),

a jump of 23%. Sales including VAT for the quarter were Skr31.47bn (£2.7bn), an increase of 14%. Group sales excluding VAT improved 14% during the quarter, up to Skr26.89bn (£2.3bn).

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