Glorious Sun Enterprises, which owns mainland and Australian-based fashion chain JeansWest, said net profit jumped 18 per cent to $117.08 million for the six months ended September. Chairman Charles Yeung Chun-kam said the regional financial woes had yet to hurt profit, which was earned almost solely from the mainland and Australia. He said, however, it forced the company to put on hold the opening on franchised stores in South Korea until the financial situation stabilised. Despite this, Glorious Sun would press ahead with the opening of two franchised stores in the Philippines to take the total to three by the end of next month, he said. 'Our investment in the Philippines started before the currency problems in the region, and we have a factory to supply goods to the outlets. That is why we will go ahead with the plan,' he said. Net profit soared 36 per cent in the first half, outstripping a $13.24 million exceptional gain in the previous corresponding period. Operating profit before exceptional items jumped almost 40.75 per cent to $159.08 million and turnover was up 12.29 per cent to $1.39 billion. Directors are proposing a 3.88 cents interim dividend against none previously. Earnings per share fell 8.54 per cent to 11.78 cents due to the dilution effect of the company's listing last year.