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| Inditex distributes EUR 748m |
August marks our second edition including our new section, Anglo-Iberian News--a focus on Spanish companies doing business in the UK-- and having an impact on British consumers and investors.This month we take a look at one of the best current account deals on the UK market from banking heavyweight, Santander, which is undoubtedly Spanish, but with a very wide net of banking assets--this new deal is just one of the marketing efforts luring more customers through its doors.
We also look at international energy group Iberdola to see how its stock is coping with new CO2 targets and global demands on supplying the right energy mix, from wind energy to nuclear power.
We also see how Spanish hotel group Sol Melia, a popular hotel group for international business travellers, has sold one of its brands to hotel and resort group, Wyndham, in a multi-million dollar deal.
But another news story that not only entices the institutional investors, but the fashionistas, is news that business at clothing retail conglomerate, Inditex, which owns brands such as Massimo Dutti and Zara, is booming. It distribued EUR748 million in dividends, 14% more than last year.
At the AGM, Inditex’s Deputy Chairman and CEO, Pablo Isla, said that the group’s success was largely in part to its business model and its clear strategic focus on international expansion, currently targeted at European and Asian markets. A total of 98% of all new stores opened outside Spain.
Inditex’s Deputy Chairman confirmed that online shopping at Zara would go live this September as well as entering new markets, Australia and South Africa, later this year.
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