Profits over the first half of the year at Inditex, the Spanish owner of the Zara clothes chain, jumped by almost a third as the world’s largest fashion retailer by value managed to sustain growth in both the sluggish economies of western Europe and emerging markets.

The group, controlled by founder and Spain’s richest man Amancio Ortega, said net profit over the first half rose to €944 million, a 32 per cent rise compared with the year before, as it opened 166 stores, taking its total count to 5,963 globally.

The sustained growth has propelled Inditex to the status of Spain’s largest company by value this year, its shares up 55 per cent in the year to value it at just under €60 billion. They rose 3.7 per cent yesterday to €95.31. – Copyright The Financial Times Limited 2012