Gildan profit rises on higher printwear sales volume

Thu Nov 29, 2012 6:50am EST

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Nov 29 (Reuters) - Clothing maker Gildan Activewear Inc posted an 84 percent rise in fourth-quarter profit, helped by higher printwear sales volumes, and the Canadian company increased its quarterly dividend by 20 percent.

Net income rose to $89 million, or 73 cents per share, from $48.5 million, or 40 cents per share, a year earlier.

Net sales rose 17 percent to $561.7 million.

Gildan, which supplies to the screenprint market in the United States and Canada, raised its quarterly dividend to 9 cents per share.

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