MAURITIUS: Ciel Textile full-year profit soars
Mauritius-based clothing manufacturer Ciel Textiles saw full-year profit soar on the back of good order books, improved efficiency and aggressive cost reduction measures.
The company, which supplies retailers including Marks and Spencer, Next and Zara recorded MUR476m (US$15.6m) net profit over the year ended 30 June, against MUR210.4m in the prior year. Revenue rose 9.7% over the year to reach MUR8.6bn.
The company said that while all clusters and countries contributed positively to the result, 70% of profitability was generated from its international operations.
Ciel Textiles anticipates first half earnings to be lower, admitting that external factors remain "generally negative" both in its major markets and on the currency front. It plans to increase its sales potential and "limit margin erosion due to excess supply over demand".
An interactive databank with intelligence on the major apparel sourcing countries
Opportunities the apparel industry should focus on this year include developing strategic relationships to improve flexibility across the supply chain; a focus on adding value through design, innovati...
Hong Kong-based fashion retailer Esprit has added three more former Inditex executives to its team to lead the company's new corporate strategy as well as develop and implement some of its major proje...
Fashion retail giant Inditex, owner of the Zara brand, recorded a 22% increase in net profit in fiscal 2012, boosted by a double-digit sales increase and nearly 500 new store openings....
Fashion retail business French Connection Group slid to an expected full-year loss in the financial year ended 31 January, thanks to an 8% decline in revenues....
Ahead of talks scheduled to take place next week on a potential rise in the minimum wage for workers in Cambodia's garment and footwear factories, campaigners are urging fashion brands to support an i...
Spanish retail giant Inditex is sending a joint mission to Bangladesh next week with the IndustriALL global trade union federation following the fire at an unauthorised subcontractor where seven worke...
Inditex has reached an agreement to purchase its Finnish Zara franchise, currently operated by the Stockmann Group. ...
Apparel company Limited Brands, owner of lingerie brands Victoria's Secret and La Senza, has become the 14th major business to pledge to eliminate all releases of hazardous chemicals throughout its su...
- TPP tariff phase-out guides Vietnam sourcing plans
- How Central America garment sourcing measures up
- How virtual garments could shape fashion retail
- Why fast fashion isn't a case of one size fits all
- Alliance brands "staying the course" in Bangladesh
- Ethiopia opens flagship textile and apparel park
- VF confident on "solid" sustainability roadmap
- Bangladesh denied US GSP re-entry on worker rights
- Amazon Prime Day a big win for apparel
- Inditex and Lenzing sign textile waste pact
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- World Textile and Apparel Trade and Production Trends: the EU - June 2016
- Luxury Goods Retailing in Europe, 2014-2019 ; Market & Category Expenditure and Forecasts, Trends, and Competitive Landscape
- Primark Stores Limited: Retailing - Company Profile & SWOT Analysis