French textiles giant DMC announced on Monday that it slashed its first half loss to 3.1 million euros from 17.4 million euros in the year-ago period on the back of a big climb in operating profit.

The company said its operating profit soared to 8.2 million euros from a loss of 300,000 euros in the year-ago period, with revenue down 15 per cent to 176.3 million euros from 207.3 million euros due to the sale of several non-strategic business units.