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Hugo Boss shares reach highest level since March

Hugo Boss shares reacted to the fashion group’s figures with a price jump to its highest level in five months.

Hugo Boss shares reacted to the fashion group’s figures with a price jump to its highest level in five months. At its peak, the share price rose by 8.5 percent to 44.08 euros. This was the last time the shares traded at this level at the beginning of March. Most recently, the premium was 6.3 percent at 43.21 euros.

Earnings before interest and taxes (EBIT) increased by two percent to 142 million euros in the first six months. The bottom line was a profit of 82 million euros, compared to 75 million euros in the previous year. The figures were better than analysts had expected. Hugo Boss confirmed its forecast for the current year.

Analyst Volker Bosse of Baader Bank attested to the fashion group’s solid figures in an initial assessment. Operating profit in the second quarter benefited from a very low base effect from the previous year. Further efficiency gains in procurement supported profitability against general headwinds in the industry.

Hugo Boss’ confirmation of its annual targets despite adverse exchange rate effects should be well received by the market, wrote analyst Susy Tibaldi of UBS bank. The retail business met expectations, which is encouraging. The company still has costs well under control, which has a positive impact on earnings.

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