Richard Pieris records Rs.31.5b revenue

The Richard Pieris Group (RPC) has reported outstanding financial performance during 2011/12 reporting a record turnover of Rs 31.5b which is a growth of 15.6 percent during the period under review. The retail sector contributed 44 percent towards the Group Turnover with another outstanding year.

During 2011/12 the Group reported an Operating Profit of over Rs.4b which indicates a steady growth of the Group’s Retail, Plastic and Rubber Sectors and the reported results make a strong statement of the Groups diversity as the above results are after absorbing the adverse impact of a staggering wage hike in the plantations sector earlier during the financial year.

The Growth in the Operating Profit excluding the Plantation Sector is a staggering 96 percent and is yet another indicator of its strong performance during the year.

The Profit before taxation was Rs.3.3b which is 18 percent above last year and yet another noteworthy indicator where the growth in the “Top Line” is reflected in a “Bottom Line” growth which is even higher.