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

[MADRID] Inditex, the world's biggest fashion retailer, reported on Wednesday a 18 per cent rise in first-quarter net profit from the year before to 654 million euros (S$1.015 billion), 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 per cent year-on-year and slightly above forecasts.

Sales at constant exchange rates from Feb 1 to June 3 rose 12 per cent year-on-year, the company said.

REUTERS