UK textiles importer Leeds Group made a profit after tax of GBP131,000 (US$206,805) in the financial year ending 30 September 2010, compared with a loss of GBP144,000 in 2009.

Leeds said that after an "extremely positive first six months", the second half of the financial year proved more challenging. It said the pronounced movement of the Euro currency has had a material impact on the results of the Group.

In addition, Leeds chairman Ewen Wigley has decided to step down from the Leeds Board with immediate effect, following an increase in other work commitments.

"I would like to take this opportunity to thank all of the staff at Leeds for their hard work and commitment in what continues to be challenging economic times," he added.

Click here to read the company's full financial release.