Lingerie and stockings producer CSP International on Monday revealed it swung to a first quarter consolidated net loss of 1.5 million euros versus a year-ago profit of 4.1 million euros.

The company, which makes around 100 million pairs of tights and stockings a year, said revenue for the quarter fell 11.5 per cent year-on-year to 40.8 million euros.

It added lingerie revenues jumped 35 per cent in the period but hosiery sales plunged 20 per cent from early 2002.