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| Sunday, 20 June 2004 |
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| News Business Features Editorial
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Dimo records Rs. 100 million profit Diesel & Motor Engineering Co. Ltd. (DIMO) according to the annual report released for the year ending March 31, has shown a record impressive growth in many areas. The group turnover has increased to Rs. 4796m in comparison to Rs. 3404m growth recorded for the previous year which is an increase of 41%. The pre tax profit has recorded Rs. 148m in comparison to Rs. 58m recorded for the year 2002/03 with a growth of 152%. The net profit for the year under review is Rs. 100m an all time record compared to Rs. 38 million for the previous year, with a growth of 158%. The group has increased its capital and revenue reserves from Rs. 613 million to Rs. 742m this year and the book value of a share is Rs. 82.49. DIMO which commenced operations in 1939 has diversified into many segments of businesses like commercial and passenger vehicles. MRF, Michelin Tyres, Mahendra Tractors, Siemens, Telecom Products and non franchise auto parts. The group has maintained business relationship with world renowned companies such as Mercedes Benz, Robert Bosch AG, GMBH of Germany, BF Goodrich, Siemens AG of Germany, Komatsu, Tata of India, Michelin and several other companies. Recently, the company was appointed the sole distributor for Chrysler vehicles in Sri Lanka of Daimler Chrysler. Among the new range of products introduced during the year include Chrysler vehicles, Tata passenger cars, anaesthesia and monitoring equipments from Drager Medical. |
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