USA: Denim Giant Cone Mills Enjoys Profit, Sales Jump
The world's largest producer of denim fabrics, Cone Mills Corp, on Tuesday revealed its highest quarterly earnings for six years as it posted a second quarter net profit of $3.1 million compared to a net loss $26.5m in 2001. The North Carolina-based company, which also commissions printing of home furnishings fabrics, said that profit was better-than-expected and net sales climbed 3.4 per cent to $125.8m from $121.7m on the back of strong denim sales.
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