Zara fashions a rise in profits

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The Independent Online

Inditex, the Spanish fashion group, delivered a surge in profits and sales in the first half and vowed to power ahead with its international expansion.

The owner of the Zara and Massimo Dutti chains grew net income by 14 per cent to €717m (£626m) over the six months to 31 July, driven by a 6 per cent leap in underlying sales.

Inditex posted a 12 per cent rise in total revenues to €6.21bn, boosted by it opening 177 stores in 35 countries over the period. The group will launch its first stores in South Africa, Taiwan, Georgia, Azerbaijan and Peru over the coming months.

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