Saturday Dec 28, 2024
Saturday Dec 28, 2024
Thursday, 18 May 2017 00:12 - - {{hitsCtrl.values.hits}}
The Dipped Products Group has posted Rs. 24 billion turnover during the financial 2016-17 year, an 11 % increase from a year ago.
Group Profit Before Tax (PBT) for the year was Rs. 1.06 billion, a 53 % increase from the Rs. 691 million recorded for the previous year.
The Hand Protection segment contributed Rs. 14 billion to revenue, 12 % higher than the previous year. Contribution to PBT from the segment was at Rs. 785 million, a 32 % increase from a year ago. The Hand Protection sector profit was impacted by the higher latex prices that prevailed in the fourth quarter.
The Plantation segment reported Rs. 10 billion in revenue, a 7 % increase from the previous year and a PBT of Rs. 272 million compared to Rs. 152 million posted for the previous year. Plantation segment performance was affected by lower crop, mainly arising from adverse weather conditions and restrictions on weedicides.
Established in 1976, Dipped Products is one of the leading non-medical rubber glove manufacturers in the world and accounts for a 5 % share of the global market. The company’s products now reach 68 countries.
The Board of Directors of Dipped Products Plc comprises Chairman Mohan Pandithage, Managing Director Dr. K. I. M. Ranasoma, F. Mohideen, S. C. Ganegoda, Dhammika Perera, M. Bottino, S. Rajapakse, N.A.R.R.S. Nanayakkara, S.P. Peiris, K.D.G. Gunaratne, H.S.R. Kariyawasan and S.M. Shaikh.
