Hosiery company Wolford AG has posted a 7.9 per cent year-on-year decrease in sales for the first half of fiscal 2003.

The Vienna-based company, which recorded sales of EUR56.9 million for the six-month period, said it now expected full-year sales to be slightly below last year's figure.

In more positive news, the business saw pre-tax profit rise to EUR0.1m from a loss of EUR0.3m in the same period a year ago.

Similarly, earnings before interest and tax were up 22.7 per cent year-on-year to EUR1.0m.

Net profit, meanwhile, stood at EUR0.5, up EUR0.8m from first half 2002.