A record figure in sales was not enough to lift the full-year profits of Inditex UK, as it underwent a store refurbishment scheme. The British division of the Spanish parent company of Zara raked in a record £602.7 million in sales for the year to January 31, a 13 per cent increase. However, the retailer said an 11 per cent spike in costs as a result of store renovations played a part in the 32.8 per cent drop in full-year pre-tax profits from £58.3 million to £39.2 million.
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Inditex UK profits plummet by 1/3 despite record sales