Spanish group Inditex, the world's leading clothes retailer, posted perky February sales figures and announced a 12.5 per cent rise in its dividend after outpacing rivals during the downturn in Europe.

The owner of fast fashion chain Zara also met expectations with a 12 per cent rise in full-year net profit to €1.9 billion, with one analyst saying today results in the fourth quarter were better than forecast.

"Like-for-like sales and gross margin seem healthier than expected in the final quarter. On every level of the high quality indicators, it is a beat," Société Génerale analyst Anne Critchlow said.

Inditex, started by Spain's richest man Amancio Ortega, runs eight brands, ranging from Zara to upmarket Massimo Dutti and accessories label Uterque.

The retailer has fared better than rivals by aggressively expanding into faster-growing markets, such as Asia, and now has more than 5,500 stores across about 80 countries.

Inditex reported store sales in local currencies up 11 per cent from February 1st to March 14th. That implied same-store sales up 3 per cent, said Ms Critchlow - a good result for a period when there was snow through most of western Europe.

Shares in Inditex, which is to lift its dividend to a total €1.80, reached a record high €72.15 on Monday, as investors speculated on the cash-rich Spanish group's dividend.

Inditex's production model is seen as having shielded it from some of the worst effects of the crisis by allowing it to adapt quickly to shifting consumer behaviour and changes in labour and material costs.

Reuters