Japanese textile giant Teijin Ltd said earnings were strong for the quarter ended 31 December thanks to sales growth, decreased costs and profits from its asset and securities holdings sales.

For the three months to 31 December 2004, earnings rose to JPY11.75 billion from JPY3.62bn in 2003, while sales totalled JPY223.23bn compared to JPY213.16bn in the year-before period.

Net profit for the quarter totalled JPY10.90bn compared to JPY3.36bn the year before.

However, the company said that apparel fabrics had seen slow sales throughout the period.

Osaka-based Teijin Limited is a leading Japanese producer of synthetic fibres.