Menu
  • CIEL LIMITED REPORTS FINANCIAL RESULTS FOR THE HALF YEAR ENDED 31 DECEMBER 2017

    15 Feb 2018

    As part of its financing strategy, on 5 February 2018, CIEL has successfully raised MUR 1.27bn of secured notes by way of a private placement under its Multicurrency Note Programme. The notes issue has a tenor of between 3 and 10 years and was rated CARE MAU AA (stable) by CARE Ratings. The proceeds from this notes issue will be used to refinance the notes issued by the Company on 30 June 2017. 

     

    At Company level, the Net Asset Value (‘NAV’) per share stood at MUR 8.76 as at 31 December 2017- down 6.5 percentage points from MUR 9.37 as at 30 June 2017 - reflecting mainly the fall in the share price of Alteo Limited, the reduction in value of the investment portfolio of the Healthcare cluster and the takeover of CTL financed by debt together with the issuance of ordinary shares at CIEL level.

     

    CIEL pursues its medium-term strategy focusing on its operations to optimise EBITDA margin and generate higher profits from its existing asset base. While profit attributable to owners is showing progress, the Group has yet to reap the full benefits of its recent investments. Management is confident that ongoing efforts at Group and cluster levels to develop increased synergies and bring efficiency within each of its operations should lead to improved performance over the medium-term.

Close