Textile manufacturer Linz Textil Holding AG has reported an increased net profit of €4.4 million for the first nine months of 2004, up from €2.7m in the same period in 2003.

The Vossen division, which the company acquired in the spring, made sales of €16.2m for the period between January and September.

The group's consolidated sales, excluding Vossen, reached €125.5m compared to €119.8m in the year-before period.

Operating cash flow dropped to €13.9m from €14.5m in 2003.

The company said it faced massive price pressure after import quotas on semi-finished textiles expired, and that increased wool prices would subsequently hamper its fourth-quarter financial results.