December 13, 2017 / 6:37 AM / 2 years ago

Zara-owner Inditex's 9-mth net profit rises 6 pct y/y

MADRID, Dec 13 (Reuters) - Inditex, the world’s largest clothing retailer, on Wednesday reported net profit to September of 2.3 billion euros ($2.7 billion), up 6 percent from a year earlier.

In the third quarter, net profit rose 2.7 percent to 975 million euros, in line with a Reuters forecast.

In the first nine months, sales rose 10 percent to 18.0 billion euros, while gross margin fell slightly to 57.4 percent from 57.9 percent last year.

Inditex generates more than half of its sales in non-euro currencies and then books those sales in euros when reporting results. ($1 = 0.8506 euros) (Reporting by Robert Hetz; Writing by Paul Day)

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