Fashion and textiles holding group Finpart said consolidated net financial debt fell to €347.5 million in the month to 31 December 2004, from €357.5m on 30 November 2004.

The company's short-term bank debt had fallen by €10.8m at the end of December from the end of November.

Pre-tax loss for the first nine months of 2004 increased to €59.5m from €49.7m in the same period in 2003.

Milan-based Finpart's labels include Andrea Pfister, Cerruti, and Maska.