• Q1 profit grows 17.6% to MUR202.1m
  • Revenues up 5.9% to MUR2.93bn
  • Woven cluster pre-tax profit jumps 44.8%

An improved performance at its woven cluster helped Ciel Textiles, the Mauritius-listed clothing business which supplies a number of European retailers, to record an increase in first-quarter net profit.

The company's profit surged 17.6% to MUR202.1m (US$6.4m) for the three months to 30 September, compared to MUR171.8m in the same period of last year.

Revenue increased 5.9% to MUR2.93bn from MUR2.77bn last year. The knitwear, knits and retail sector saw pre-tax profit climb 1% to MUR127.5m and revenues rise 6.4% to MUR1.66bn. The woven cluster booked a 44.8% jump in pre-tax profit to MUR106.4m, while revenues improved 5.3% to reach MUR1.27bn.

Ciel said operations in the woven and knits clusters are showing satisfactory performance, but softer sales in the knitwear cluster are likely to impact results in the coming months.