Inditex confirms rise in profits

<p>Profits have risen at Inditex.</p>

Inditex has confirmed it saw a small rise in its profits, with the financial results better than had been predicted by analysts.

The company, which owns high street brands such as Zara, revealed that its net profits for the six months to the end of July were up by one per cent to 951 million euros (£798 million).

Joe Rundle, head of trading at ETX Capital, stated that the firm has been able to continue its success by "differentiating itself as the trendy clothing retailer around the world".

He added: "Its reputation as the more fashionable name in the High Street clothing world has helped the retailer's global footprint."

Inditex – which is the world's largest clothing retailer – confirmed poor weather has had an impact on sales, while trading in European markets was described as being tough.

The share price of the company rose slightly today (September 18th) on the back of the news its profits have grown. At 16:16 BST, its stocks were 0.64 per cent up for the day.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.