HIGH-STREET clothing empire Inditex earned €1.26 billion in the first six months of this year, proving once again that Galicia's most global enterprise is apparently immune to any financial crisis.
Founded by Europe's richest and the world's third-richest man Amancio Ortega, 80, Inditex is best known outside of Spain for its budget fashion store Zara.
It also covers the mid-upper high-street ranges Massimo Dutti and Uterqüe, Zara's cheaper 'younger sister' Bershka, cut-price streetwear chain Pull&Bear, underwear retailer Oysho, quality interiors range Zara Home, and budget young fashions store Stradivarius.
Inditex is also one of Spain's greatest job-creators – of the 10,000 new posts generated between February and July inclusive, a total of 2,421 were on home territory.
Overall, with sales at €10.465bn and net profits at €1.256bn, the company's earnings have increased by 8% and sales by 11% based upon the same period in 2015.
Positive growth has been seen in every part of the world, including all regions in Spain, where Inditex stores are based – a growth which, on average, sits at 7% compared with the same six months of last year.
Only 17% of sales were reported in Spain, however, with 25% in Asia, 43% in the rest of Europe and 15% in the Americas – the same percentages as last year.
Gross profits rose by 7% to €2.112bn and net profits to just over €16bn over the last year, with gross profit margins up to nearly €6bn or 9% more than last year.
Inditex continues to maintain its expenses under 'strict control', which has contributed to its 9% gross profit increase along with its newly-opened physical stores.
Online sales have risen by 13% in the two-month period since August 1, whilst a 'strong rhythm' of new job creation – including non-shop-floor positions in its head offices – has been largely maintained thanks to a further 83 stores opened in the first six months of this year in 38 countries.
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