Mackie International, the Northern Ireland textile engineering group, has completed the disposal of its shares in Belgian textile company, Uniwear, for £500,000 sterling. This brings the total consideration to £1 million for the 9.6 per cent stake. Mackie said this corresponds to the book value of the investment. However, the investment has cost the company £1 million, the sum which was written off in the 1996 accounts.

The Belfast company began the share disposals in 1997 as part of a capital increase to repay debts. Mackie , which lost £7.2 million before tax in 1996 on sales of £12.6 million, has predicted a return to profits by the end of this year.