THE Italian clothing group Benetton, which has a presence in Ireland, yesterday announced that it had boosted its 1996 net profit 11.5 per cent and said it intended to raise its dividend by 18 per cent. Analysts said the results were fairly in line with forecasts but they foresaw a slowdown in net profit growth in 1997.

The main question mark remaining was what the group intended to do with a 133 billion lire (£50 million) cash pile.

Benetton's consolidated net profit rose to a record 246 billion lire from 220 billion in 1995 and it said it would pay a dividend on ordinary shares of 500 lire, up from 425 previously.