Noritake posts Rs 500 m revenue in first quarter

Charumini DE SILVA

Noritake Lanka Porcelain has recorded a revenue of Rs 500 million during the first quarter and is targeting a better growth than last year posting a 10 to 15 percent growth during this year.

Noritake Lanka Porcelain Executive Consultant Nimal Perera said it is a good start for Noritake Lanka.

The company's performance last year was commendable. The company ended up with Rs 1.9 billion revenue last year, which was a significant achievement of the company.

At present, the company has a capacity to manufacture over one million pieces per month.

This one million pieces consists of fine casual china, white porcelain and bone china tableware. This year the company is working on the theme of zero defects to further enhance the quality and the productivity.

"During this year the company is expecting to invest around Rs 300 to 400 million on automated machinery.

"Noritake Lanka now has the ability to manufacture any type of body shape including the latest design of square shaped tableware. Noritake Lanka has the biggest printing plant and is now exporting decal papers to other factories as well," Perera said.

There is commendable demand for Bone China tableware. Noritake Lanka exports Bone China products mainly to the Japanese high-end market and the company also exports products to the USA and UK markets. Apart from these markets the company is also exploring other markets like India.

Perera said there is a growing demand for Noritake products in India.

Around 10 percent of the products are now being exported to the Indian market as well. Noritake now has five showrooms in India.