Mauritian tycoon Jean-Pierre Dalais’ CIEL posts $59.8-million half-year profit

Omokolade Ajayi -

CIEL Limited, a leading conglomerate led by Mauritian businessman Jean-Pierre Dalais, has delivered a resilient financial performance in the first half of its 2024 fiscal year.

The company’s profit soared to MUR2.74 billion ($59.85 million), reflecting a remarkable 37-percent increase from the corresponding period in its 2023 fiscal year when it stood at MUR2 billion ($43.7 million).

This impressive surge in profit can be attributed to the conglomerate’s adept cost-effective measures and strategic initiatives implemented under the guidance of Dalais.

Despite a two-percent decline in overall revenue, dropping from MUR18.14 billion ($396.3 million) to MUR17.82 billion ($390 million), CIEL Limited showcased its ability to navigate challenges.

The decline in revenue was primarily associated with a slowdown in the Textile cluster. However, the setback was mitigated by double-digit growth in the Hotels & Resorts, Finance, and Healthcare clusters.

CIEL’s Dalais prioritizes operational excellence and new investments for sustainable growth

Dalais, the group CEO of CIEL Limited, commented on the results, stating, “Our half-year results reflect our agility and capacity to seize market opportunities, notably through our strategic positioning in high-potential geographic areas such as Africa and India.”

“We continue to focus on enhancing our portfolio and delivering steady value to our stakeholders. We will remain financially prudent; ensure we boost our operational excellence whilst being active on new investment opportunities,” Dalais added.

CIEL Limited operates as a broad-based Mauritian conglomerate with active operations and investments in over 10 emerging and developing economies across Africa and Asia.

Led by Dalais, the conglomerate operates through five key business clusters, namely CIEL Agro and Property, CIEL Finance, CIEL Hotels and Resorts, CIEL Textile, and CIEL Healthcare. These subsidiaries are active in Mauritius, Africa, and Asia.