Spanish firm Inditex, the world's biggest fashion retailer and owner of the Zara brand, has reported solid half-year profits. It was boosted by expansion abroad and a new online retail operation.
Net profit for the February-to-July period totalled €717m, up 14% from the equivalent figure last year. Sales exceeded analysts' expectations, rising by 12% to €6.2 billion.
Inditex opened 177 new stores in the past six months, including a first store in Australia. Inditex, which also owns youth label Bershka and the upmarket Massimo Dutti brand, currently has 5,221 stores in 78 countries.
With the international expansion, Spanish sales fell to 26% of total sales, from 28% a year earlier. Asian sales expanded to 12% of total sales from 10%.
