Inditex, the world's largest clothing retailer, today reported net profit of €2.3 billion for the nine months to September.

This marked a 6% increase from a year earlier. 

In the third quarter, net profit rose 2.7% to €975m, in line with a Reuters forecast.

In the first nine months, sales rose 10% to €18 billion, while gross margin fell slightly to 57.4% from 57.9% last year. 

Inditex generates more than half of its sales in non-euro currencies and then books those sales in euros when reporting results.