Spain's Dogi International Fabrics posted a 43% jump in nine-month operating profits to EUR2.3m as heavy cost cutting and manufacturing efficiencies offset weak sales at home.

In a statement, the Barcelona-based stretch-fabrics maker said revenues fell 1.9% to EUR104.7m, hurt by weak sales in Spain's slumping textiles market. Net losses were EUR2.3m, 16 per cent less than EUR2.8m last time.

Dogi said sales rose 15% in Asia and 5% in Germany, helping offset the domestic sales decline. It added that its "innovative" Dreamshape and Penn Elastic fibre lines performed strongly during the January-September period.

Dogi has said that it will break even (at net profit level) this year, helped by an expected upturn in worldwide sales.

The company could not immediately be reached for comment.

By Ivan Castano.