Richard Pieris Group’s 1H PBT grows by 184% to Rs. 3.6 b

Tuesday, 19 November 2024 01:55 - - {{hitsCtrl.values.hits}}

Richard Pieris Group, one of Sri Lanka’s largest and most diversified conglomerates, recorded a Profit Before Tax (PBT) of Rs. 3.59 billion in the first six months of the 2024/25 financial year, recording a significant profit growth of 184% over the corresponding period from the last financial year where the company recorded a PBT of Rs. 1.26 billion.

The Group’s outstanding performance for Q2 is a continuation of the progress they demonstrated in Q1 of the current financial year. It underscores the Group’s resilience in successfully facing and overcoming an uncertain domestic economic environment amidst volatile global economic factors.

With more than 50 factories spread across the country, the Group continues to play a major role in manufacturing while adapting strategies to navigate external challenges. They also remain resolutely committed to creating sustainable value across diverse sectors.

As the Group forges ahead with a focused approach in expansion and modernisation in multiple sectors, the Plantations Sector has played a major role in driving the growth of the Group with an exceptional performance during the period under review. Richard Pieris Group remains a major player in the Plantations Sector, strengthening its position as the largest tea and rubber producer in Sri Lanka and to command a key position in oil palm as the country’s second largest oil palm producer. The Manufacturing Sector, with emphasis on sleep solutions and hardware business units, also delivered major revenue and profit growth. Both of which have been major contributors to the exceptional revenue expansion of the Group.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.