Dipped Products posts improved 1H results

Dipped Products PLC, (DPL) the Hayleys Group's multi-national rubber glove manufacturing business, has posted top and bottom line growth for the first half of 2011-12, with higher performance-based growth in manufacturing and capital gains from the sale of shares in the second quarter of the year.

Helped by softening latex prices and strategic initiatives by management, Local Manufacturing improved volumes by 10 percent and increased FOB turnover by 41 percent to Rs. 4.1 b, enabling the Hand Protection sector to contribute Rs. 7 b (up 27 percent) to the Group's six month turnover of Rs. 9.6 b.

Turnover from Dipped Products Thailand, the Group's medical glove manufacturing operation was Rs. 1.1 b. Sales of Icoguanti S.p.A., DPL's Italian marketing company grew 16 percent to Rs. 2 b. The Plantation sector's contribution was Rs. 3 b including the turnover of Mabroc Teas which was consolidated from this year.