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Inditex Group Q1 Profit Rises; Sales Up 2% - Quick Facts

Inditex Group (IDEXF.PK) reported first-quarter net profit of 668 million euros compared to 654 million euros, prior year, up 2%. EBITDA rose 1% to 1.12 billion euros.

First-quarter net sales were up 2% to 5.7 billion euros. Sales growth was 7% in local currencies. The Group said its growth during the period was underpinned by solid business performance and same-store sales growth across all geographies.

Inditex's CEO, Pablo Isla, said: "The strength of the integrated store and online model, bolstered by continued innovation, is driving solid growth and notable job creation".

For current trading, the Group reported that its sales in local-currency terms rose by 9% between 1 May and 11 June 2018. Inditex has scheduled its Annual General Meeting for 17 July. The Board of Directors will ask the company's shareholders to approve the payment of an overall dividend from 2017 profits of 0.75 euros per share, 0.375 euros of which was already paid out on 2 May 2018; the balance would be paid on 2 November 2018.

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