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Inditex reports strong first half

Inditex, the owner of Zara, saw sales rise 14% to €4.5 billion (£3.5bn) and net profit rise 7% €406m (£322.2m) for the first six months of the year.

Inditex said that EBITDA rose 7% to €822m (£652.4m) for the first half.

Inditex said that it had received a good reaction to its autumn 08 ranges with the first six weeks of the season showing similar growth patterns to the first half.

Inditex's new accessories concept, Uterqüe, which debuted earlier in July, has beaten expectations. There are 15 Uterqüe stores.

Inditex had 3,940 stores across 70 countries on July 31. It opened 249 stores during the six month period.

Click the attached Pdf for the full results statement.

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