Dipped Products delivers strong 3Q results
The Dipped Products Group has recorded a growth of 20 percent,
posting a turnover of Rs 17.4 b 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.
The company reported that revenue from Hand Protection grew by 5
percent to Rs 11 b in the nine months ending December 31, 2012.
Local manufacturing grew turnover by 6 percent to Rs 6.6 b in the
period under review. Icoguanti S.p.A, DPL's Italian marketing company
improved sales by 4 percent to Rs 3.1 b, and Dipped Products Thailand
(DPTL) contributed Rs 1.8 b 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 b, 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 b for the nine months. Profit after
tax for the period under review was Rs 1.2 b 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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