Taiwan's Nien Hsing Textile (Q.NHT), a denim and jeans maker, posted an unaudited March pretax profit of NT$144.9m (US$1=NT$32.943), down 14 per cent from NT$169.4m in the same month last year, the company said in a statement Tuesday.

Pretax profits in the January-March period was NT$432m, down 10 per cent from NT$479m in the same period last year, the company said.

The decline in profit was due to last year's earnings from the sale of its shareholdings in other companies and this year's losses in stock investments, the company said.

At 02:20 GMT the company's shares lost NT$0.10 to NT$29.40.