Vietnam National Textile and Apparel Group (Vinatex) generated VND286bn (US$17.87m) in profit during the first nine months of 2007, representing a 45.5% increase on the prior year period.

During the January to September period this year, the group's exports turnover reached US$1.004bn, representing a year-on-year increase of 13.5%, with exports to US market around 60% of this.

"Despite coping with many difficulties and challenges in the nine month period, Vinatex has applied a lots of measures and initiative in production and marketing in a bid to assuring its targets," said Vu Duc Giang, General Director of Vinatex. "This has been helping us to have the return of the US clients and helping many enterprises to get contracts for the end of 2007 and for the beginning of 2008."

Companies under the Vinatex umbrella include Phong Phu Corporation, Industrial Textile Co, Phu Bai Spinning Co, Viet Tien Garment Co and Hoa Tho Textile and Garment Co.

By Ngo Tuan.