Textile maker Caleffi has posted a 20.4 per cent year-on-year increase in full-year net profit to EUR2.2 million for 2003.

The Italian company also reported a 5.78 per cent year-on-year rise in net revenue to EUR43.8m for the year.

Over the 12-month period, the company invested EUR3m, compared to EUR1.7m in 2002.