Sales and marketing firm Innovo Group Inc, which operates Innovo Azteca Apparel and Joe's Jeans, has swung to a third quarter profit of $2.0 million, compared to a net loss of $2.31m in the same period last year.

Net sales increased to $41.12m in the third quarter from $22.00m in the same period in fiscal 2003, whilst net revenue totalled $41.12m, compared to $22.0m in the year-before period.
The company said the improved results were due to greater demand for its Joe's Jeans line, sales growth within its denim sector to existing customers and new private label customers, and better production and delivery performance.

Jay Furrow, chief executive officer of Innovo said: "Our third-quarter performance reflects the ongoing implementation of our strategic plan to focus and maximise our core denim and denim-related apparel operations, which we believe will be the foundation upon which continued positive results can be achieved."