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Inditex first half profits up 26%

Inditex Group’s net sales grew 17% year-on-year to €9.4bn (£6.9bn) in the first half ended July 31, while its net profit rose 26% to €1.2bn (£0.9bn). Like-for-like sales were up 7%.

Inditex, which owns Zara, Pull & Bear, Massimo Dutti, Bershka and Stradivarius, opened 94 new stores during the first six months of the year, bringing its total to 6,777 across 88 markets.

The group now sells online in 28 markets, with Zara recently launching ecommerce operations in Hong Kong, Macau and Taiwan. Stradivarius, Pull & Bear and Massimo Dutti have also opened online platforms in China.

Store and online sales in local currencies increased by 16% between August 1 to September 10.

As ratified at its annual general meeting on July 14, Inditex will pay a final ordinary and bonus dividend totalling €0.26 (19p) per share before tax on November 3, completing the €0.52 (38p) per share dividend declared against 2014 earnings.

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