Leading Italian sportswear firm BasicNet, owner of the famous Kappa label, has posted a sharp rise in first quarter pre-tax profit to 3.2 million euros from 1.9 million euros in the year-ago period.

The company, which makes kits for top soccer teams such as Italy's Juventus and England's Tottenham Hotspur, added sales fell to 60 million euros from 72 million euros last year.