By
Europa Press
Published
Nov 4, 2015
Download
Download the article
Print
Text size

JP Morgan raises stake in Inditex to 3%

By
Europa Press
Published
Nov 4, 2015

JP Morgan has raised its stake in Inditex, and holds now 3% of the Spain-based apparel group according to data from the Spanish government agency responsible for the financial regulation of the securities market, the Comisión Nacional Del Mercado de Valores (CNMV).

JP Morgan raises stake in Inditex to 3% - Inditex


The investment bank holds 99.6 million Inditex shares, which represent 3.197% of the group’s total capital.  The stake is worth €3.4 billion euros, about $1.09 billion.

In 2012, when JP Morgan informed the Spanish entity of its venture in Inditex, it reported a 2.58% stake in the company’s capital.

The retailer’s shareholders will this year receive more than 1.6 billion euros in
dividends from its 2014 profits, which means 0.52 euros per share, up 7.5% from last year.

Inditex paid an ordinary dividend of 0.26 euros per share on May 4th, and will also pay a final ordinary and bonus dividend totalling 0.26 euros per share before tax on Tuesday 3rd.

The group saw net profits rise 26% year-on-year in the first half of 2015, totalling 1.16 billion euros, while its net sales grew 17% to 9.42 billion euros, with positive results across all markets, and especially in Asia.

First-half like-for-like sales growth was 7%, up from 4.5% in 2014.

The European market, excluding Spain, accounted for 42.7% of the group’s total sales, compared to 45.6% the previous year. Asia concentrated 25.5% of total sales, while Spain accounted for 17.4%, down from 19.3% in the first half on 2013. Meanwhile, the US accounted for 14.7% of the total amount, from 13.4% the previous year.  

Copyright © 2024 Europa Press. Está expresamente prohibida la redistribución y la redifusión de todo o parte de los contenidos de esta web sin su previo y expreso consentimiento.