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Knitwear drives Ciel Textiles 28% profits leap

According to a Reuters report this morning, Mauritian clothing maker Ciel Textiles has reported a 28% rise in first-half pre-tax profits after an improved performance from its knitwear business (Floreal Knitwear). The company is said to have satisfactory orders for the current quarter.

18th February 2014

Knitting Industry
 |  Port Louis

Knitwear, Knitted Outerwear

According to a Reuters report this morning, Mauritian clothing maker Ciel Textiles has reported a 28% rise in first-half pre-tax profits after an improved performance from its knitwear business (Floreal Knitwear). The company is said to have satisfactory orders for the current quarter.

The supplier of knitwear, fine circular knits and wovens to the UK’s Marks & Spencer and Next and Spain's Zara posted earnings of 330.91 million rupees for the six months to December 31.

"Our order books for the next quarter are satisfactory despite challenging market conditions," the company said in a statement on Friday. Ciel Textiles, which is listed on Mauritius’ secondary Development & Enterprise Market, said its earnings per share rose to 2.50 rupees from 1.84 rupees a year earlier.

Ciel Textiles operates as a regional one-stop shop, with vertical integration from spinning to finished products, offering complete apparel solutions for mens, ladies and childrenswear.

The group has operational units in Mauritius, Madagascar and India, and continues its efforts to compete with European manufacturers moving towards the up-market. This strategy, Ciel says, involves investing in the latest technology, broadening its product range and the reinforcement of the human resources of the group.

Floreal Knitwear Ltd was officially opened on 5 June 1972. It was the first Knitwear factory to operate on the Island of Mauritius in the middle of the Indian Ocean, producing knitted shetland and lambswool sweaters on hand flat machines...

The Ciel Textiles group has 8 business units: knitwear, knits, shirts, bottoms, spinning, weaving, dyeing and retail. Through its retail unit, CieI commercialises the brand Harris Wilson and Floreal Boutiques.

In garment manufacture, Ciel owns the well known Floreal Knitwear which has knitwear operations in Mauritius, Madagascar, China and Bangladesh and Tropic Knits which has circular knitting plants in Mauritius and leisurewear making up units in Madagascar.

In fabrics and yarns the Ciel group owns Consolidated Dyeing & Fabrics which knits fabrics in Mauritius and Ferney Spinning Mills which spins carded yarn for knitwear and weaving in Mauritius.

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