Fibre manufacturer Far Eastern Textile Ltd has posted a sharp rise in first half net profit to NT$1.46 billion (US$43 million) from NT$362.2bn in the year-ago period.

The company, which recently announced plans for a new yarn and dyeing plant in China, attributed the rise to write-offs in securities investment and said revenue slipped four per cent to NT$15.51bn from NT$16.17bn in 2001.