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Zara-owner Inditex's nine-month net profit rises 6 percent year-on-year

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Zara-owner Inditex's nine-month net profit rises 6 percent year-on-year

Zara-owner Inditex's nine-month net profit rises 6 percent year-on-year
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MADRID (Reuters) - Inditex <ITX.MC>, the world's largest clothing retailer, on Wednesday reported net profit to September of 2.3 billion euros (2 billion pounds), up 6 percent from a year earlier.

In the third quarter, net profit rose 2.7 percent to 975 million euros, in line with a Reuters forecast.

In the first nine months, sales rose 10 percent to 18.0 billion euros, while gross margin fell slightly to 57.4 percent from 57.9 percent last year.

Inditex generates more than half of its sales in non-euro currencies and then books those sales in euros when reporting results.

($1 = 0.8506 euros)

(Reporting by Robert Hetz; Writing by Paul Day)

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