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Inditex 9M profit increased 9% to 2.21 billion euros

Staff Writer | December 14, 2016
Industria de Diseño Textil or Inditex reported that its nine-month net profit increased 9 percent to 2.21 billion euros from 2.02 billion euros last year.
Inditex   EBIT went up 9 percent to 2.82 billion euros
EBIT went up 9 percent to 2.82 billion euros, and EBITDA, a key earnings metric, grew 8 percent from last year to 3.61 billion euros.

Inditex Group's net sales rose 11% in the first nine months to 16.4 billion euros from 14.74 billion euros a year ago. In constant-currency terms, top line growth was 15%, underpinned by solid same-store sales growth.

The company said the growth, coupled with the Group's investment effort, has enabled the creation of 9,245 new jobs worldwide over the past 12 months, 1,705 of which were in Spain.

Inditex chairman and CEO, Pablo Isla, said, "The company's growth is driving noteworthy job and value creation in our various markets, most particularly in Spain, boosted by the simultaneous growth at the Group's headquarters. This momentum is the result of sustained investment -logistic facilities and stores- as well as the ongoing development of integrated offline-online store model."

In its fourth-quarter trading update, the company said its online and offline store sales increased 16% in constant-currency terms between November 1 and December 12.