Apparel manufacturer Veltex Corporation has posted record net income from continuing operations for the first half of 2003.

The California-based company, which operates factories in Bangladesh, reported net income of $766,238 for the six months ended June 30 last year, up from $350,000 in the same period a year earlier.

Sales for the first half, meanwhile, totalled $7.4 million, compared with $13.9m for full-year 2002.

"We are very pleased with our accomplishments last year and the continued growth of the company," CEO Javeed Matin said.

"Our balance sheet is strong."

Veltex will release the balance of its 2003 financial results later in the year.