August 3, 2020

Inditex increases its profit by 12% in 9 months, to 2,720 million euros

Amancio Ortega group sales grew by 7, 5 percent.

The Inditex group, owner of brands such as Zara or Bershka, achieved a net profit of 2,720 million euros in the first nine months of its fiscal year (February to October), 12% more than a year earlier, while its sales grew 7.5% and totaled 19,820 million.

In addition to the positive evolution of the business, the accounts of the largest textile group in the world reflect el positive impact of the new accounting standards on rentals -excluding this factor, the profit would rise 9% – and the weakness of the euro -at constant rates sales grow 7% -.

According to the accounts sent to the National Securities Market Commission (CNMV), the gross operating result (ebitda) stood at 5,702 million, 45% more. Excluding the impact of the application of IFRS 16 accounting rules, the growth would be 10%. Efe

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