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Zara-owner Inditex reports 18 pct rise in Q1 net profit
June 14, 2017 / 5:17 AM / 5 months ago

Zara-owner Inditex reports 18 pct rise in Q1 net profit

MADRID, June 14 (Reuters) - Inditex, the world’s biggest fashion retailer, reported on Wednesday a 18 percent rise in first-quarter net profit from the year before to 654 million euros ($733.40 million), in line with analysts’ forecasts.

The Spanish owner of fashion label Zara said earnings before interest, tax, depreciation and amortisation (EBITDA) in the first quarter of its 2017 fiscal year were 1.1 billion euros, up 17 percent year-on-year and slightly above forecasts.

Sales at constant exchange rates from Feb. 1 to June 3 rose 12 percent year-on-year, the company said. ($1 = 0.8917 euros) (Reporting by Gdynia Newsroom; Writing by Angus Berwick; Editing by Robert Hetz)

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