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Inditex First-Half Profit Tops Target

Spanish clothing retailer Inditex, owner of the Zara chain, made a net profit of 393 million euros ($545 million) in its first half, it said on Wednesday, up 33% year-on-year and above
analysts' forecasts.

Inditex said in a statement sales in the six months to July rose 19% to 4.124 billion euros while EBITDA (earnings before interest, tax, depreciation and amortization) climbed 29% to 782 million euros.

A Reuters poll of 10 analysts forecast Inditex would make net profit of 377 million euros on sales of 4.105 billion euros. EBITDA was expected to be 760 million euros.