Textile and fashion firm Marzotto said first-half net profit fell 29.8% to EUR8.5m (US$10.7m) on a 5.4% rise in revenues.

This compared to a pro forma net profit of EUR12.1m the year before.

Net financial debt decreased to EUR67m by 30 June 2006, from EUR109.7m on 31 December 2005.

Taking its first-half results and its second-half order book into account, Marzotto predicts a full-year profit increase.