Clothing giant Inditex reported a 30% rise in net profit to E432m (£374.7m) for its first quarter, on revenues up 15.4% to E3.4bn (£2.95bn).

The retailer posted its highest-ever gross margin, which rose by 140 basis points to 60.2%.

During the quarter Inditex opened 91 new stores in 26 countries. The retailer plans to launch a website in China in September. It is also working on the expansion of its headquarters in Arteixo in northwest Spain and plans to open a new logistics platform in Catalonia in September.

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