Inditex confirms rise in profits

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.

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