MAURITIUS: Ciel Textiles Q1 profit boosted by exports
- Q1 net profit up 12% to MUR171.8m
- Revenue up 12% to MUR2.77bn
- International operations driving growth
Ciel Textiles, the Mauritius-listed clothing business which supplies a number of European retailers, posted double-digit profit and revenue gains in the first quarter.
International operations were the main driver of growth, with seasonal sales of knitwear also a major contributor to the results for the period ending 30 September.
Knits, knitwear and retail revenues posted revenue growth of 11.8%, a result mirrored by similar gains by the company’s woven division.
Ciel Textiles said it expected profit growth to be sustained throughout the first half of the financial year, thanks to good order books and improved operational efficiencies.
But the company said it was closely monitoring the political situation in Madagascar.
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