Home / Knowledge / News / Textiles / CIEL's textile cluster posts 6.75% rise in revenue
CIEL's textile cluster posts 6.75% rise in revenue
20
May '16
Mauritian investment company CIEL’s textile cluster posted a rise of 6.75 per cent in revenue in the first nine months of fiscal 2015-16, ended March 31, to $224.11 million as compared to $209.93 million in the corresponding period last fiscal attributed to improvements in woven and knit business.

The company’s woven and knit business showed improved results during the nine months period, as compared to its knitwear business which showed a slight drop in profitability because of lower sales margins and start-up costs at Antsirabe, Madagascar.

The cluster posted profit before non-recurring items and taxes of $15.63 million, a growth of 2 per cent as compared to the same period in fiscal 2014-15.

CIEL’s consolidated profit before non-recurring items and taxes was down 10 per cent as compared to last year to $36.79 million.

However, consolidated revenue rose to $400 million, a rise of 15 per cent as compared to prior year.

“CIEL’s fundamentals remain strong and our strategy to consolidate our operations while expanding our international footprint will progressively bear fruit as demonstrated by the performance of our textile, finance and healthcare clusters in particular,” Jerome De Chasteauneu, Executive Director of the company commented on the results.

“We are making good progress in raising the level of efficiency and profitability, monitoring closely our cost structure, all of which should translate into improved results over time,” he added. (MCJ)

Fibre2Fashion News Desk - India

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X