Knitwear supplier Ciel Textile full-year profit up 27 pct

The supplier of knitwear to Britain's Marks & Spencer and Next and Spain's Inditex reported revenue for the year to June 30 of 10.11 billion rupees from 9.56 billion rupees a year ago.

Mauritian knitwear supplier Ciel Textile full-year profit up 27 pct

Mauritian clothing maker Ciel Textile reported a 27 percent rise in full-year pretax profit to 827.20 million rupees ($23.31 million), helped by rising sales to its Asian markets.

The supplier of knitwear to Britain's Marks & Spencer and Next and Spain's Inditex reported revenue for the year to June 30 of 10.11 billion rupees from 9.56 billion rupees a year ago.

"Market conditions in Europe and South Africa remain challenging. Exchange rate volatility on these markets is a concern. Internationalisation of operations and expansion in Asia remain the major strategic focus of the group," it said.

Listed on the Indian Ocean island's secondary Development and Enterprise Market, the company said its earnings per share rose to 6.90 rupees from 5.08 rupees a year earlier.

JOIN OUR PULSE COMMUNITY!

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.com.gh