Designer Textiles doubles interim profit

The dividend payout for the six months ended December is 1 cent per share, the same as the previous half-year.

"The directors consider that this reflects the improved operating performance of the company and would be welcomed by shareholders given that there was no final dividend for the year ended 30 June 2001," the company says.

"The result reflects the benefit of the changes made last year, positioning the company with a solid platform for future growth."

Operating cash flows for the six months was $877,000 compared with $538,000 and total revenue rose to $31.89 million from $30.12 million previously.

CEO, Philip Moller, says management has continued its focus on changing the company from being a textile production company selling fabrics, into a sales and marketing organisation that delivers textiles, ready-made curtains, garments and other solutions to its customers.

"The business plans implemented in all three business units are delivering the improvements targeted and we are confident that the progress made to date will be sustained."

Mr. Moller says the business units operations are performing better with increased efficiencies.

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