Photo: Kinnevik's major shareholder Cristina Stenbeck.

Kinnevikdelägda Global Fashion Group's sales, excluding the in July of this year divested indian fashion boutique Jabong, rose by 48 percent at constant currencies during the first half of 2016, to nearly 4.4 billion.

It is clear from a press release.

the Company will make continued large operating losses.

But the operating margin improved to 15 per cent during the half, from -33% in the first half of 2015.

This is mainly thanks to improved inventory management which increased the gross margin to 42.2 from 40.7 per cent.

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