Friday 20 October 2017

Zara owner Inditex first half profits beat forecasts

Zara owner Inditex, the world's largest clothes retailer, said first-half net profit rose 1pc to €951m from a year earlier.

The company beat expectations as strict cost controls helped offset the impact of poor weather and negative currency effects.

The Spanish retailer, which owns eight brands including upmarket brand Massimo Dutti and teen label Bershka, posted a 6pc rise in sales to €7.7bn.

A Reuters poll had forecast net profit of €926mand sales of €7.6bn.

Reuters

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