Looking smart: Asian boom sends H&M to new high

Shares in the Swedish fashion retailer H&M surged to a record high yesterday, thanks to growth in Asia.

Third-quarter operating profit was up 16 per cent at $900m (£561m).Sales in China were strong as 22 stores were opened in the last three months, sending revenues there up 37 per cent against a year earlier.

Sales jumped 46 per cent in Japan, 8 per cent in the UK and Germany and 13 per cent in France.