GARMENT manufacturer Tungtex (Holdings) Co has reported profits of $30.6 million for the six months to September 30, compared with $19.72 million for the same period last year.
Earnings per share were 8.5 cents compared with 5.6 cents, while the interim dividend rose to 2.5 cents from 1.5 cents.
Turnover rose to $594.36 million from $524.14 million.
The company said sales in the United States, which accounted for 75 per cent of total group sales, climbed 33 per cent as the economy started to emerge from recession. This helped to offset declining markets in Europe.
Tungtex has expanded its production facilities in China, including the launch of operations in September at a newly acquired industrial building in Shenzhen.
About 65 per cent of the company's production is done in China, 30 per cent in Hong Kong and the remainder in Malaysia and Vietnam.