High Street
H&M profits hit by Russian exit
Its results were impacted by a one-time cost of SEK 2.1bn (£76.1m), related to the winding down of H&M's Russian operations, accounting for half of the decrease in profits
![H&M](https://b855165.smushcdn.com/855165/wp-content/uploads/2018/03/HM-e1522142346527-780x470.jpg?lossy=1&strip=1&webp=1)
H&M has announced pre-tax profits of SEK 689m (£56.5m), down from SEK 6.09bn (£220m) a year prior, in the group’s fiscal third quarter from 1 December 2021 to 31 August 2022.
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