Apparel operator People's Liberation has reported net income for the third quarter of 2007 of approximately US$600,000, compared with net income of $133,000 for the third quarter of 2006.

The company, which designs under the brand names People's Liberation and William Rast, said that net sales for the quarter rose approximately 23% to $6.2m compared with $5.1m in the same quarter last year. The increase in sales primarily reflected continued growth of the William Rast brand, the company said.

"I am very pleased with the momentum we are seeing in our business," said chief executive officer Colin Dyne. "In the third quarter we achieved strong profitability as we saw a convergence of events including strong top line growth, which was driven by the expansion of our specialty and department store business, coupled with continued progress in our efforts to control overhead costs."

"Also, the significance of our financing transaction in which we raised additional working capital lies in the strategic importance of the members of the fashion apparel industry, who, by participating, have expressed their confidence in our growth potential. In addition to forming important alliances with members of the apparel industry, we are also exploring potential acquisition candidates as a part of our strategy to create a portfolio of high-end contemporary brands under the People's Liberation umbrella."