Inditex Full-Year Profit Rises

Zara owner Industria de Diseño Textil SA IDEXY reported a 5.2% gain in its net profit last year, The company's net profit for the period rose to EUR2.5 billion ($2.65 billion), versus a year-ago profit of EUR2.38 billion. Inditex's sales surged 8.3% to EUR18.12 billion. Like-for-like sales rose 5%, versus a 3% growth in 2013. Between February 1 and March 14, store and online sales climbed 13% in constant currencies, versus an 11% growth. The company announced its plans to pay a dividend of EUR0.52 per share for 2014, a 7.5% rise versus a year-ago period. Industria de Diseño Textil shares fell 2.23% to close at $14.94 yesterday.