Leading Vietnamese textile and garment manufacturer Thanh Cong Textile Garment Investment Trading (TCM), has seen its third-quarter profit soar by 948%.

The company, which has facilities for weaving, knitting, dyeing, finishing and sewing, and produces apparel for brands like JCPenney, CK, TescoNautica and Target, said net profit jumped to VND35.96bn ($1.71m) in the quarter, up from VND3.43bn ($0.16m) in the same period last year.

Total revenue during the three months reached VND700.7bn ($33.37m), a year-on-year rise of 36.4%.

A company spokesperson attributed the remarkable figures to strong exports to Korea via its strategic partner E-Land Group, as well as revenues from the yarn produced by its spinning plants.

During the first nine months, TCM booked a profit of VND92.5bn ($4.4m) on revenues of VND1.887bn ($89.9m).

The Ho Chi Minh City-based firm is targeting full-year revenues of VND2,500bn and VND130bn in net profit.