Zara owner Inditex 2007 net profit up 25 pct
MADRID, March 31 |
MADRID, March 31 (Reuters) - Inditex (ITX.MC), Europe's biggest clothes retailer and owner of the Zara chain, posted a 25 percent jump in net profit on Monday as it enjoyed gains from a weaker dollar against the euro.
Net profit at the fast-growing retailer came in at 1.258 billion euros ($1.98 billion). Net profit attritutable to the controlling company came to 1.25 billion euros.
Sales grew 15 percent to 9.435 billion euros for the financial year running from February 2007 to February 2008 against a forecast 9.56 billion euros. (Reporting by Sonya Dowsett)
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