Source Pravda.Ru

Hugo Boss says 2006 profit rose 19 percent after company boosted sales

Hugo Boss AG, a German maker of designer clothes, said Wednesday that annual net profit rose 19 percent after the company boosted sales.

Net income in the 12 months through Dec. 31 rose to Ђ129 million (US$167.2 million) from 108 million in the same period a year earlier, the company said in a statement. Sales during the period rose 14 percent to EUR 1.5 billion (US$1.94 billion).

"The managing board expects the positive sales and earnings trend to continue in 2007," the company said in a statement, reports AP.

Hugo Boss shares gained 0.7 percent to EUR 43.30 (US$56.12) in Frankfurt.