Dipped Products delivers strong 3Q results
Dipped Products Group has recorded top line growth of 20 per cent,
posting turnover of Rs 17.4 billion at the end of the third quarter of
2012-13, with strong operational performance in its Hand Protection
sector and a significant contribution from Plantations.
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DPL’s ‘Capital II ’ flock lined,
natural
rubber gloves in use |
The Hayleys Group subsidiary that accounts for 5 percent of the
global non-medical rubber glove market, has reported that revenue from
Hand Protection grew by 5 per cent to Rs 11 billion in the nine months
ending December 31, 2012.
Local manufacturing grew turnover by 6 per cent to Rs 6.6 billion in
the review period, ICOGUANTI S.p.A, DPL's Italian marketing company
improved sales by 4 per cent to Rs 3.1 billion, and Dipped Products
Thailand (DPTL) contributed Rs 1.8 billion to the sector's turnover, the
company said.
Meanwhile, the Dipped Products Group's Plantation sector companies
Kelani Valley Plantations PLC (KVPL) and Talawakelle Tea Estates PLC
(TTEL) increased their turnover to Rs 7.1 billion, with the
consolidation of turnover from Hayleys Plantation Services, the owners
of TTEL.
In income statements filed with the Colombo Stock Exchange, DPL
reported profit before tax of Rs 1.5 billion for the nine months. Profit
after tax for the period reviewed was Rs 1.2 billion as compared with Rs
716 million before capital gains, at the end of 3Q 2011-12.
"We are continuing to see the impact of the economic slowdown in
Europe.
However, as the figures indicate, our focused efforts to sustain
sales amidst demand volatility are proving to be effective," the
company's Managing Director Dr. Mahesha Ranasoma said.
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