AGENCIES
Inditex posted a net profit of 928 million euros of in the first half of its fiscal year (since 1 February until July 31 ), which is a down 2.4% over the same period last year, after four consecutive years of growth in their semiannual earnings, reported Wednesday the Galician textile group.
The decline in profit was recorded after their earnings will rebound 1% a year before 32% in the first fiscal quarter of 2012-2013 , 14% in the fiscal first half from 2011 to 2012 and 68% in the first six months of fiscal year 2010-2011. A year earlier, in the 2009-2010 fiscal first half, the textile giant profit fell 8%.
More sales, less profit
Sales -influidas accounting for exchange as Inditex totaled 8085000 euros, which is a increase of 6% , with positive growth in all geographic areas, while sales at constant exchange rates grew by 11% .
The company explained that the effect of the translation of no euro currency reduced sales by four percentage points, while the consolidation of Tempe, footwear provider, reduced sales by 1%.
The gross operating profit ( Ebitda) reached 1.617 million euros, below the 1,624 million euros achieved a year earlier, while net operating profit (EBIT) stood at 1,194 million, compared to 1,219 million a year earlier.
Gross margin amounted to 4,658 million euros, 4% higher than the previous year, reaching 57.6% of sales.
grow sales in Europe and kept in other areas
geographical areas Europe accounted for 45.6% of sales , compared to 44.6% a year earlier, while Asia garnered 21.7% of turnover, the same percentage as a year ago, and Spain, 19 , 3% , also the same as in the first half of last year. Meanwhile America accounted for 13.4% of the total, compared with 14.4% a year earlier.
Regarding the beginning of the third quarter , in the period between 1 August and 12 September 2014, the sales Store and Online at constant change have grown 10% .
The group has also highlighted that has continued to generate employment and has created over 8,000 new jobs work in the last twelve months, 1,200 of them in Spain , therefore, among other reasons, to the investment policy aimed at increasing capacity of its central facilities.
Inditex has kept Operating expenses under “strict control” during the period, ending up 6% , mainly as a result of new retail space and variable expenses related to the growth of sale. Operating expenses include all costs of launching new openings.
Almost 6,500 stores in 88 markets
The company stressed that the growth commercial space in the semester is in line with the schedule for this year, as ordinary investment is estimated at around 1,350 million euros.
At the end of the first half of 2014, Inditex has reached a total of 6,460 stores in 88 markets , following 120 openings net in 40 different markets.
The group operated stores online at the end of semester 25 markets , who has joined Mexico since last September 3. In addition to 21 European countries, sales pitch Store is done online internet in China, Japan, the United States, Canada and Mexico said.
In the coming weeks is expected Zara in South Korea and the beginning of the internet business in the Mexican market the other group formats, as well as expanding the supply of Zara in China through Tmall platform.
Finally, according to what was approved by the shareholders’ meeting held on July 15, 3 november 2014 will be held on payment of ordinary final dividend and special dividend , a set gross value of 0.242 euros per share , which is complete and total dividend of 0.484 euros per share for financial year 2013.
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