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Inditex posts 12% profits growth

Zara owner Inditex saw net income grow by 12% last year as sales in all geographic areas increased.

For the year to January 31 net sales increased by 10% to €13.8bn (£11.5bn) with net income increasing to €1.9bn (£1.6bn). Like-for-like store sales climbed by 4% during the year.

During 2011 the group, which runs the Zara, Massimo Dutti, Bershka and Pull and Bear chains, created 9,374 new jobs bringing its workforce for 109,512 employees. At the end of 2011 Inditex had 5,527 stores, 483 more than the year before. During 2012 Inditex plans to increase the total number of stores by between 480 and 520.

Since the end of the year sales at the company have continued to rise with revenues increasing by 11% from February 1 to March 14.

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