The Spanish clothing group Inditex benefited last year from high demand in all regions and measures to improve margins. Sales and operating profit rose sharply, with the increase in profit falling slightly short of expectations. The group announced today that earnings before interest and taxes (EBIT) rose by 29 percent to EUR 5.5 billion.
The group recorded an 18 percent increase in sales to just under EUR 32.6 billion. The bottom line is that the mother of the fashion chain Zara, the company’s most important brand, earned 4.1 billion euros, 27 percent more than in the previous year. Sales and surplus thus reached record levels.
In addition to Zara, the Spanish company also owns the brands Bershka, Massimo Dutti, Oysho, Pull & Bear and Stradivarius. The shareholders are to receive a dividend increased by 29 percent to EUR 1.20. The main beneficiary of this is majority owner Amancio Ortega, who is one of the richest people in Europe.
