Inditex posts H1 net profit of 2.5 bln euros
But shares fall 1.5 as investors book profits
Shares have risen 58 over past year
Inditex sales rise 13.5 driven by summer sales
Company keeps outlook unchanged

MADRID, Sept 13 Reuters Zara owner Inditex on Wednesday beat expectations with a 40 jump in halfyear net profit despite the world39;s biggest fast fashion company slowing the pace of its price increases.

Inditex has widened its lead over Swedish rival HM this year by delivering fashion trends faster from nearby suppliers at prices that allow it to cope with inflationary pressures.

The company posted a net profit of 2.5 billion euros 2.7 billion for the six months to July 31, outpacing a 2.38 billion euro market forecast according to data from LSEG.

However, its shares fell 1.5 in early trading in Madrid as investors booked profits following a 58 rise over the past year.

Given recent performance, many investors just question how long the strength can go on for, said Bernstein analyst William Woods.

Most analysts expect Inditex39;s strong financial position will allow it to keep prices stable or even cut them in the face of weakening demand and lower inflation.

The retailer39;s flagship brand Zara plans further store expansion in the United States, a market that two years ago became Inditex39;s biggest after Spain.

Inditex sales rose 13.5 to 16.9 billion euros and a gross margin of 58.2.

The group, which also owns Bershka, Pull Bear and other brands, said…