MADRID (dpa-AFX) - Inditex SA (IDEXF.PK), a Spanish clothing firm, on Wednesday posted a rise in earnings for the first-half, reflecting an increase in sales, driven by a firm demand. Inditex shares were gaining around 5 percent in the morning trading in Spain.
For the six-month period to July, the company posted net income attributable at 1.79 billion euros or 0.576 euro per share, higher than last year's 1.27 billion euros or 0.408 euro per share.
Pre-tax income was 2.34 billion euros, compared with 1.64 billion euros last year.
Operating earnings or EBIT stood at 2.43 billion euros as against 1.69 billion euros, reported for first-half of 2021.
Operating cash flow or EBITDA rose to 4.03 billion euros from 3.10 billion euros in the previous fiscal.
Amortization and depreciation was at 1.38 billion euros, lesser than 1.42 billion euros of last year.
The fashion firm's net sales moved up to 14.85 billion euros from 11.94 billion euros a year ago.
For 2021, Inditex said it will pay a final dividend of 0.465 euro per share on November 2.
Looking ahead for 2022, Inditex expects a stable gross margin, plus or minus 50 basis points.
In Spain, Inditex shares were gaining around 4.6 percent to trade at 22.96 euros.
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