2023-06-07 23:00:05
The net profit of the Spanish company, Inditex, which owns the Zara brand, jumped 54 percent to 1.2 billion euros during the first quarter of this year, compared to 760 million euros during the same period last year.
The company disclosed statementOn Wednesday, its sales increased by 13 percent to 7.6 billion euros during the first quarter of this year, compared to 6.74 billion euros in the same period last year.
The company’s total profit increased by 14 percent to 4.6 million euros in the first three months of this year.
The company’s revenue before interest and tax amounted to 1.5 billion euros, an increase of 43 percent, and EBITDA increased by about 14 percent, to reach 2.2 billion euros during the first quarter.
The company’s net cash flow amounted to 10.5 billion euros during the first quarter of 2023.
The company’s board of directors proposed a dividend of $1.20 per share. Inditex began its work in Cambodia last May by opening a Zara store.
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