Inditex 2012 Net Profit Up 22%

Spain's Inditex reported a 22% increase in its 2012 profit. Inditex's 2012 profit surged to 2.4 billion euros ($3.13 billion), while sales rose 16% to 15.9 billion euros. Analysts were expecting a net profit of 2.4 billion euros on sales of 16.0 billion euros.