The Galician textile company Inditex met forecasts at the close of 2011 with 12% more profit, reaching 1,932 million euros. Moreover, due to Asia, and especially China, its turnover increased by 10% to 13,793 million, according to a company statement.

In particular, Spain accounted for 25% of Inditex's turnover, compared to the 28% it contributed a year earlier, wherefore its weight in the Inditex business as a whole fell three points, while Asia made up 18 % of sales as opposed to 15% in 2010.

Likewise, Chinese fans of the Spanish firm have reasons to celebrate, as Zara will launch its online store in China during Winter 2012. Since September 2011, all commercial formats of Inditex have sold ​​via the Internet. E-commerce extends to 18 European countries, the USA and Japan. In addition, the company founded by Amancio Ortega aims to open between 480 and 520 new stores in 2012.

As regards expansion, it is worth highlighting the 132 new stores opened in China in 2011, 30 of them were Zara, which has already exceeded 100 stores in this market. In 2011 two new formats were launched in China: Oysho and Zara Home, with 17 and 5 stores respectively, which helped raise the total number of stores in this country to 275.

There were also a significant number of new stores in the two other major Asian markets, Japan and Korea, with 15 and 13 respectively, including the first Bershka for both and the first Pull & Bear and Stradivarius in South Korea. Three new openings of Zara in India (Mumbai, Pune and Bangalore) and the aforementioned arrival in Taiwan (with two new stores in Taipei), complete the highlights of the year in Asia.

Moreover, the company’s EBITDA improved by 10%, to 3,258 million euros. Last year’s profits were also reflected in a rise in staff; the company chaired by Paul Island generated a total of 9,374 new jobs in 2011, bringing its total workforce to 109,512 at the end of 2011.

In addition, this profit will be shared. The company has announced that it wants to reward its shareholders with a dividend increase of 12.5% ​​compared to 2010, up to 1.8 euros. Of this amount 0.90 euros per share will be paid on 2 May 2012 by way of interim dividend, while 0.90 euros per share shall be paid on 2 November 2012 by way of both supplementary dividend and extraordinary dividend.

 

Source: Globalasia.com

 

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