17:20 - 11.12.2024

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December 11, Fineko/abc.az. For the 3rd quarter of fiscal year 2024, Spain’s Industria de Diseno Textil SA (Inditex), one of the world's largest clothing retailers, increased net profit by 8.5% and revenue by 7.1%.

ABC.AZ informs that in February-October, company's net profit amounted to 4.449 bn euros against 4.102 bn euros a year earlier.

Inditex's revenue grew up to 27.422 bn euros from 25.609 bn euros a year earlier.

Pre-tax profit and interest payments (EBIT) rose by 9.3% up to 5.673 bn euros, profit before tax, interest and depreciation payments (EBITDA) by 7.2% up to 7.967 bn euros.

Gross profit increased by 7.2% up to 16.291 bn euros, while profitability remained at 59.4%.

At the end of October, Inditex operated 5,659 stores.

The retailer predicts that gross profit margin will remain at the same level in 2024 financial year, as well as annual expansion of retail space by about 5% in 2024-2026. The company has confirmed capex this year in the amount of 1.8 bn euros.

Inditex is owned by Spanish billionaire Amancio Ortega and operates Zara and Zara Home, Pull & Bear, Massimo Dutti, Bershka, Stradivarius and Oysho stores.