Greek textile manufacturing group Fieratex reported a considerable increase in turnover, which grew to 7.13bn drachmas ($18m) over January-March 2001 versus 4.9bn drachmas ($12.3m) for the first quarter last year.

The group posted pre-tax profit after minority rights of 251.79m drachmas ($633,000), while it recorded a loss of 902.26m drachmas ($2.3m) in the same period of 2000.

The parent company achieved turnover of 3.74bn drachmas ($9.4m) from 2.49bn drachmas ($6.3m) over the first three months of the previous year.