Home / Knowledge / News / Textiles / Ciel Textiles clocks robust growth in Q1
Ciel Textiles clocks robust growth in Q1
06
Dec '13
Mauritius-based clothing firm CIEL Textiles witnessed double-digit growth in first quarter profits as a result of good order books, improved international operations and rise in in seasonal sales of knitwear. Whilst all clusters and countries contributed positively to this year’s result, most of its profitability was generated from its international operations.

Despite not very supportive economic environment, CIEL Textile Limited (“CTL’’) managed to grow its profitability by 12.2 per cent to 171.821 million rupees in the first quarter of FY 2013-14 ended September 30, 2013, driven by international operations and surge in seasonal sales of knitwear.

In the first three months of fiscal 2012-13, CTL, the supplier to British clothing retailers Marks and Spencer, Next and Zara, posted a net profit of 153.374 million rupees.

CIEL Textile exports approximately 60 per cent of its production to Europe, 25 per cent together to India and South Africa and 15 per cent to USA. The improvement in global operation gives an indication that company’s “Internationalisation Strategy” has started to pay off and continuous progress is being achieved on internal operational excellence of most of its operations in Mauritius, Madagascar and India.

The world’s second largest woolmark knitwear supplier reported a sales growth of 11.78 per cent as revenue reached 2,770.98 million rupees in the first quarter of the current financial year from 2,478.78 million rupees in the same period a year ago.

CIEL Textiles’ impressive earnings growth comes even when its operational units in Madagascar was affected by a prolonged political turmoil in the Indian Ocean island.

Commenting on earnings, Ciel Textiles said it expected profit growth to be sustained throughout the first quarter of the financial year, thanks to good order books and improved operational efficiencies. At the same time, company said it is closely monitoring the political situation in Madagascar.

The company is hoping that its healthy order-books and superior operational capacities will help CTL in posting solid revenue growth in the first half of the fiscal year. 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search