Textile company Coats Cucirini has posted a net loss of €3.5 million for the January-September period, compared to a loss of €652,000 for the same period in 2003.

The company saw negative consolidated earnings before interest, tax, depreciation and amortisation of €1.5m for the nine-month period, attributed mainly to the weak performance of parent company Coats Cucirini SpA.

Cucirini recorded a consolidated turnover of €52,200 euro for the first nine months.

Third-quarter net loss totalled €1.4m, compared to €226,000 in the same period in 2003.