Profits for Leeds Group

The Yorkshire firm said profit after tax was 534,000 for the six months to March 31, compared with 134,000 in the same period last year.

Pre-tax profits rose from 139,000 to 744,000.

Earnings per share increased to 1.8 pence, up from 0.5p, because of the profits rise and the lower number of shares in issue.

It said that revenue at its German-based Hemmers-Itex Textil import and export business rose to 14,829,000, up from 13,230,000.

Improved margins were maintained throughout the six month period and the Chinese subsidiary has performed very well, Leeds Group said.

Profit before tax for Hemmers was 843,000, up from 147,000, which included a gain on the valuation of financial derivatives of 193,000 (compared to a 36,000 loss previously).

Debt in Hemmers was reduced by 1.16m.

Leeds Group continues to hold a stake in Dawson International and said any growth in the value of its shares would be based on a "resolution" of the firm Scottish firm's defined benefit pension scheme, which has significant liabilities.

Leeds Group lost a legal challenge to the decision by Leeds City Council to classify the land the firm owns at Haw Lane, Yeadon as town or village green. The firm said it had made a provision of 61,000 to cover the costs of the action and it was taking legal advice on whether it should appeal.

The firm added: "Whilst exchange rate movements may not be as favourable in the second half of the financial year, sales have started well and the board looks forward to the remainder of 2010.