TEXWINCA Holdings has posted a 25.7 per cent rise in attributable profit to $107.55 million for the year to March 31. Earnings per share increased 15.66 per cent, to 19.2 cents. The directors have recommended a final dividend of 2.50 cents per share, down 54.55 per cent, taking the total dividend for the year to five cents, down 37.5 per cent. Turnover grew 50.6 per cent, to $679.35 million, while operating profit rose 25.2 per cent, to $119.5 million. Operating margin fell to 17.6 per cent, from 21.2 per cent. A company statement last night did not explain the drop in operating margin, nor did it explain the reduction in dividend payment, given the improvement in profit. ''Although business has been slow during the past year for the textile and garment industries, various markets in the world are now showing signs of improvement,'' said chairman Poon Bun-chak in the statement. Soaring cotton yarn prices at the beginning of the year did not affect the group as it had sufficient stock, he said. ''With enhanced productivity, improved product quality and low production costs of the group to be expected, the board is still optimistic about the results for the coming year,'' he said. The company expected all its production activities would be concentrated in Dongguan, China, at the beginning of next year. Factory premises in Hong Kong, except those to be used as warehouses, would either be sold or held for other investment purposes, said Mr Poon.