December 6, 2007 / 10:08 PM / 10 years ago

Gildan profit jumps in fourth quarter

(Figures in U.S. dollars unless noted)

OTTAWA, Dec 6 (Reuters) - Gildan Activewear (GIL.TO) GIL.N reported a sharp rise in fourth-quarter earnings on Thursday, as it sold more clothing.

Gildan said net profit rose to $40.9 million, or 34 cents a share, in the quarter, up from a profit of $16.8 million, or 14 cents a share, in the same period last year.

The Montreal-based company said that, excluding restructuring charges, it earned $45.8 million, or 38 cents a share. That compares to adjusted earnings of $36.8 million, or 30 cents a share, in the year-prior period.

$1=$1.01 Canadian Reporting by Susan Taylor & Natalie Armstrong; Editing by Rob Wilson

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