Fast fashion giant Inditex, owner of the Zara chain, has posted a 5 per cent increase in EBITDA to €1.54 billion (£1.34 billion) for the first nine months of the year.
Net income was 2 per cent ahead at €843 million (£735.6 million), on sales up 11 per cent to €7.35 billion (£6.41 billion).
The retailer, which has 4,147 stores worldwide, reported “similar growth patterns” to those in the third quarter for the first six weeks of the final quarter.
Inditex said highlights of the year so far include the near-doubling of store numbers in Russia, entry into Montenegro and the expansion of new accessories fascia Uterque, which now has 24 shops.
The retailer said: “The strong cash generation of the group is remarkable, with net cash position up 9 per cent to reach €525 million. Investment strategy, together with the usual absence of financial debt, has been fostered by the efficient capital allocation process.”
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