Mauritius Headquartered clothing group Ciel Textiles posted a fractional dip in first half pre-tax profits last week, as a jump in profits from woven items offset a sharp fall in knitted goods profits.

The group, which supplies European high street giants like Britain's Marks & Spencer and Next, and Spain's Zara, told Reuters that profits dipped to 258.6 million rupees ($8.45 million) from 260 million rupees a year earlier. Listed on Mauritius's secondary Development and Enterprise Market, Ciel Textiles earnings per share fell to 1.84 rupees from 2.10 rupees a year ago.

According to Reuters, profit from woven items during the six months ended December climbed to 137.7 million rupees from 85.5 million the year before and profit from knits fell to 77.3 million rupees from 142.9 million rupees. ($1 = 30.6000 Mauritius rupees)

Ciel Textile which employs around 17,000 in textiles in the region is a leading manufacturer in the African Sub-Saharan Region and is said to be largest Woolmark knitwear supplier in the world.

The group 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, Ciel says, involves investing in the latest technology, broadening its product range and the reinforcement of the human resources of the group.

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.

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.

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.

Source: Reuters