Taiwanese jeans and denim manufacturer Nien Hsing Textile Co has reported net profits of NT$1.15bn ($35m) for financial 2000, a drop from the NT$1.43bn ($43.5m) reported in 1999, reports the Dow Jones. According to sources within the company the drop in profits was mainly due to unrecoverable debts owed by US garment distributor Bugle Boy.