French textiles giant DMC on Monday said 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.

It added it expects its good performance to continue into the second half of the current fiscal year.