January 30, 2008 / 9:32 PM / in 10 years

Gildan profit soars on higher volume, prices

(In U.S. dollars unless noted)

TORONTO, Jan 30 (Reuters) - Gildan Activewear Inc GIL.TO GIL.N said on Wednesday that its first-quarter profit beat its earlier forecasts, as the T-shirt maker’s sales surged on higher volumes and prices.

The company said it earned $27.5 million, or 23 cents per share, in the three months ended Dec. 30. That was up from a profit of $15.6 million, or 13 cents per share, in the same period a year earlier. (Reporting by Wojtek Dabrowski; Editing by Peter Galloway)

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