T-shirt maker Gildan Activewear Inc has posted an 11.2 per cent pre-tax earnings increase for 2003 to C$91.2 million, up from C$82.05m in the 12 months prior.

The result marked a four-year pre-tax earnings high for the Montreal-based manufacturer.

Fourth quarter pre-tax earnings, meanwhile, fell 11.7 per cent to C$9.7m, down from $10.98m in the same period a year earlier.