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Inditex reports 2016 net profit up 10 pct, in line with forecasts

Reuters - UK Focus

MADRID, March 15 (Reuters) - The world's biggest clothing retailer Inditex (Amsterdam: IT6.AS - news) reported on Wednesday full-year net profit of 3.16 billion euros ($3.35 billion), up 10 percent on the year ago period and in line with analysts' forecasts.

The Spanish owner of fashion label Zara said earnings before interest, tax, depreciation and amortisation (EBITDA) were 5.08 billion euros, up 8 percent from a year earlier and also in line with analysts' forecasts.

Sale at constant exchange rates from Feb. 1 to March 12 rose 13 percent year on year, the company said. ($1 = 0.9420 euros) (Reporting by Sonya Dowsett; Writing by Paul Day)