Brazil's biggest textile group Companhia de Tecidos Norte de Minas (Coteminas) posted a 17 per cent net profit increase to BRL59.17 million for the third quarter of 2004.

Net reveunue for the period increased by 44.1 per cent to BRL402.38m, while sales costs rose 49.6 per cent to BRL267.88m.

1975-established Coteminas currently operates 12 plants throughout Brazil.