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Floreal knitwear pushes Ciel Textiles profits up 28%

YarnsandFibers News Bureau 2014-02-18 16:20:00 – Mauritius

Floreal Knitwear Ltd is a subsidiary company of CIEL Textile, Mauritian clothing maker. Floreal is the leading knitwear manufacturer in the African Sub-Saharan Region and is the second largest woolmark knitwear supplier in the world after an improved performance from its knitwear business (Floreal Knitwear) has reported a 28% rise in first-half pre-tax profits.

Floreal Knitwear Ltd was officially opened on 5 June 1972 was the first Knitwear factory to operate on the Island of Mauritius in the middle of the Indian Ocean, producing knitted shetland and lambswool sweaters on hand flat machines

The supplier of knitwear, fine circular knits and wovens to the UK’s Marks & Spencer and Next and Spain's Zara posted earnings of 330.91 million rupees for the six months to December 31.

The company said to have satisfactory orders for the current quarter and their order books for the next quarter are satisfactory despite challenging market conditions. Ciel Textiles listed on Mauritius’ secondary Development & Enterprise Market, said its earnings per share rose to 2.50 rupees from 1.84 rupees a year earlier.

Ciel Textiles operates as a regional one-stop shop, with vertical integration from spinning to finished products, offering complete apparel solutions for mens, ladies and childrenswear.

The group has operational units in Mauritius, Madagascar and India, and continues its efforts to compete with European manufacturers moving towards the up-market. This strategy involves investing in the latest technology, broadening its product range and the reinforcement of the human resources of the group.

In fabrics and yarns the Ciel group owns Consolidated Dyeing & Fabrics which knits fabrics in Mauritius and Ferney Spinning Mills which spins carded yarn for knitwear and weaving in Mauritius.

In garment manufacture, Ciel owns the well known Floreal Knitwear which has knitwear operations in Mauritius, Madagascar, China and Bangladesh and Tropic Knits which has circular knitting plants in Mauritius and leisurewear making up units in Madagascar.

The Ciel Textiles group has 8 business units: knitwear, knits, shirts, bottoms, spinning, weaving, dyeing and retail. Through its retail unit, CieI commercialises the brand Harris Wilson and Floreal Boutiques.

Courtesy : Reuters

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