Zara owner Inditex sees 40% surge in H1 profit

By Tuba Ongun

Zara owner Inditex on Wednesday reported a 40% annual surge in the first half of 2023 net profit thanks to robust growth in sales.

The world's leading fast fashion company saw a €2.5 billion ($2.7 billion) net income in the first six months of this year.

Its sales grew 13.5% year-on-year to reach €16.9 billion in the January-June period, as "spring/summer collections have been very well received by customers," it said.

The company's gross profit increased 14.1% to €9.8 billion in the same period.