August, 7, 2018
The Dipped Products Group posted Rs.7.6 billion turnover for the first quarter ended 30th June 2018.
Group Profit before Tax (PBT) for the quarter improved to Rs.326 million, compared to Rs. 93 million recorded for the same period of the previous year.
The Hand Protection segment posted a growth of 3% in turnover amounting to Rs. 4.1 billion.
Elaborating on the results, the Chairman Dipped Products PLC Mr. Mohan Pandithage said “Overall performance improved during the period due to the prevalence of stable rubber prices and market conditions, which consequently enabled DPL to consolidate sales in a sustainable manner. Several manufacturing excellence programs including Total Productive Maintenance (TPM) initiated by the company has also contributed to improve the performance. Consequently, the contribution to PBT from the Hand Protection segment improved to Rs. 247 million compared to Rs.24 million of the period in the previous financial year.”
Sales of Dipped Products Thailand (DPTL) remained stable for the quarter, while ICOGUANTI S.p.A, DPL’s Italian marketing company recorded a revenue growth of 12%.
The contribution from Plantations enabled DPL to further strengthen its overall performance for the quarter. Chairman, Mr Pandithage noted that the Plantation segment posted Rs. 3.6 billion in revenue and contributed Rs. 79 million to the Group PBT, up from Rs. 69 million for the same period in the last financial year.
On the whole, the Dipped Products Group posted Rs. 250 million PAT.
The Board of Directors of Dipped Products PLC comprises Messrs. Mohan Pandithage (Chairman), Sarath Ganegoda, Dhammika Perera, M.Bottino, F. Mohideen, S.Rajapakse, N. A. R. R. S Nanayakkara, S.P.Peiris, K.D.G.Gunaratne, H.S.R.Kariyawasan, R.H.P.Janadheera and Ms.R.N.Obeyesekere.
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