PORT LOUIS, Sept 27 Mauritian clothing group
Ciel Textiles made a pretax profit of 610.67 million
rupees ($20.1 million) in the year ended June 30, up from 231.58
million the previous year on the back of good order books and
aggressive cost cutting, the company said on Thursday.
The group, which supplies Britain's Marks & Spencer
and Next along with Spain's Zara, said 70
percent of profits were generated from international operations.
However, it said external factors remain generally negative,
both on its major market and on the currency front.
"Our short term priority remains to increase our sales
potential and limit margin erosion due to excess supply over
demand," the company said in a statement.
As a result, it expected earnings in the forthcoming first
half to be lower.
Listed on Mauritius's secondary Development and Enterprise
Market, Ciel Textiles said earnings per share rose to 4.50
rupees from 1.86 rupees a year earlier.
The shares closed at 16.50 rupees on Wednesday.
($1=30.4500 Mauritius rupees)
(Reporting by Jean Paul Arouff; Editing by Greg Mahlich)
(Email :firstname.lastname@example.org; Tel :+254 20 2224717)