Richard Pieris mulls tourism
Sets target to achieve Rs 2.5 b net profit:
To venture overseas with strategic investments:
Charumini de Silva
Richard Pieris Group has set targets to achieve a net profit of Rs
2.5 billion by the end of this year, while expecting to exceed the net
profit Rs three billion in 2011, Richard Pieris Group Chairman Dr Sena
Yaddehige told Daily News Business.
He said the group is planning on building a 100 room luxury hotel in
Colombo.
Chairman
Dr Sena Yaddehige |
The company is seeking a partner for this project. The group owns
lands in Tangalle, Trincomalee, Kandy and Nuwara Eliya. They are looking
into possibilities of venturing into the leisure sector as the leisure
industry has become a fast growing industry.
The restoration of peace has re-gained the confidence of doing
business in Sri Lanka while passing the same feeling to the customers.
The green Arpico Supercentre is another step of the master plan and
the company will provide over 1,000 job opportunities within the next 18
months along with their expansion programs.
"The introduction of the green concept helps to reduce cost, while
passing the benefits of it to the customers. During the next two years
the Group will create ways and means to go green as much as possible.
Richard Pieris Group is promoting nano technology in saving energy in
Sri Lanka as the cost of energy is high," Dr Yaddehige said.
Richard Pieris Group is expecting to take their footprint overseas
with investments in Bangladesh, Papua New Guinea and Middle-Eastern
countries.
The Chairman said Richard Pieris Group has three modules of business
catering to all segments of society and is contributing to improve the
rural livelihood.
With the continuous rain during the past few weeks the rubber prices
recorded its highest ever increase. Due to the rain the demand and
prices increased significantly. He said if the rain continues the prices
will undoubtedly increase.
"Arpico Finance Ltd a subsidiary of the Richard Pieris Group also
performed substantially well during the year. The company will enter the
capital market once the Group finds that the stock market is on an
upward trend. However, the company has no immediate intention of getting
listed," Dr Yaddehige said. |