Tempe makes record turnover (+ 10.7%), but reduces profits (- 14.5%)

2016 has been a peculiar financial year for Tempe, the company that produces footwear for the Spanish Inditex group (Zara and Massimo Dutti among others). After two years of unrestrained growth in profits, Tempe ended last year with a net profit of 94.8 million euro compared to 110.9 in 2015. That year, net income grew by 54%. A reduction came in the year of a record turnover: 1.2 billion against 1.117 billion Euros in 2015. Founded in 1989, Tempe has its registered office within the Inditex headquarters in Arteixo (A Coruña), although its headquarters operation is located in Elche (Alicante). The company, which is 50% owned by Inditex and the other half by the impresario and president of Tempe Vicente García Torres, has subsidiaries in Mexico, Sao Paulo (Brazil), Hong Kong and Shanghai (China).

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