German clothing company Hugo Boss, part of Italy's Valentino Fashion Group, has booked a net profit of 154 mln euros for 2007, marking a 20% annual rise.
The company's pre-tax profit stood at 212 mln euros ($310.3 mln), up 18% year-on-year. Its turnover increased by 9.0% to 1.63 bln euros ($2.386 bln).
The rise in turnover was estimated at 12%, not considering the changing currency rates, the company said in a statement.
Hugo Boss had previously set a 10-12% target for annual turnover growth and a 12% rise in pre-tax profit.
The company forecast record turnover and profits for 2008.
