Designer Textiles profit jumps

Designer Textiles has posted a 25 per cent rise in half-year profit. The company reported a $1.65 million net profit to December 31, up from $1.317 million in 2001.

Total operating revenue was slightly higher at $32.6 million ($31.893 million). An unchanged fully imputed dividend of 1.125c per share was declared.

Chairman George Gould, who owns about 25 per cent of the company, said the solid result was "evidence of a definite turnaround for Designer Textiles".

The company also forecast a final year, after tax profit "satisfactorily ahead of the $3.3 million achieved last year".

Designer Textiles was the sharemarket's best performer last year with a 143 per cent share price rise. Its shares closed steady yesterday at $1.14, compared with its 12-month high of $1.20 and low of 53c.