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| Sunday, 27 July 2003 |
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| News Business Features Editorial
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DPL increases profits, turnover Dankotuwa Porcelain Ltd. (DPL) recorded a post-tax profit of Rs. 3.5 million for the first quarter of the year. This is a significant increase compared to the loss of Rs. 2.3 million made in the first quarter of last year. During the 2002 financial year, DPL achieved a profit after tax of Rs. 37.4 million. This figure includes a revenue of Rs. 600 million from the export market and Rs. 166 million from the local market. This increase in profit was achieved through good marketing efforts and by marketing high value products to the export market. The increase in the export market is a result of an increase in the price per unit and not necessarily an increase in volumes. Porcelain is exported to USA, the UK, Japan, India, Middle East, Australia, Spain and Italy. The company also experienced a sales growth from Spain, Italy and the UK (Macy's) due to the large orders it received. A 20 per cent growth was achieved in the local market. In spite of the favourable turnover figures, energy costs increased by 33 per cent over last year's due to fuel hikes. Despite this increase in fuel costs, DPL was successful in recording a profit as a result of the factory working in full capacity and high efficiency. A new kiln will be delivered to Dankotuwa in mid-August. "We purchased this kiln to increase existing plant capacity with higher flexibility and to meet the increase in demand from the export market," CEO Kithsiri Wijesundera said. During the 2002 financial year, DPL was adjudged winner of the Best Annual Report in the Manufacturing sector, for the second consecutive year. The company was also the 'Gold Sponsor' and official souvenir provider for the 14th Asian Athletics Championships and the principal sponsor and official running number for the recently concluded Asia Grand Prix 2003. Dankotuwa Porcelain is an associate company of International Ceramics Inc. of Tokyo, Japan and became a public listed company on the Colombo Stock Exchange in January 1995. |
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