Italian exports boost Dipped Products net

1 August 2013 03:24 am - 0 - {{hitsCtrl.values.hits}}

A A A

Dipped Products PLC (DPL) generated a sharp 29 percent year-on-year (YoY) increase in net profits backed by stable rubber prices and strong Italian exports to post Rs.413.9 million during the quarter ended June 30, 2013.

Revenue during the quarter increased by 10 percent YoY to Rs.6.33 billion while finance costs dropped 19 percent YoY to Rs.68.4 million.

Meanwhile, finance income spiked 59 percent YoY to Rs.70.2 million with the group earning a further Rs.14.5 million in other income and gains, as compared with Rs.9.1 million in the previous year. “Overall performance improved during the year due to the prevalence of stable rubber prices which consequently enabled DPL’s customers to consolidate sales with confidence,” Dipped Products Managing Director Dr. Mahesha Ranasoma stated.

Sales at of ICOGUANTI S.p.A, the group’s Italian marketing company, remained high during the quarter, while Dipped Products Thailand recorded volume growth of 8 percent YoY and revenue growth of 16 percent YoY.

Earnings per share stood at Rs.6.91 against a previous Rs.5.36 per share in 2012.

Hayleys PLC is the majority shareholder in Dipped Products with a direct 41.6 percent stake in the group, followed by the Employees’ Provident Fund with 13.06 percent of the issued share capital.

Volanka (Pvt.) Ltd and Haycarb PLC hold the next largest stakes in the company at 8.14 percent and 6.80 percent, respectively.

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 0

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Italian exports boost Dipped Products net

Comments - 0

Add comment

RECOMMENDED

‘Spike in blast fishing’ poses renewed threats to Sri Lanka’s marine ecosystems

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Most Viewed in News

Sri Lankan among NASA’s new crew for next simulated Mars journey

Former MP Palitha Thewarapperuma dies from electrocution

Ranil Wickremesinghe caravan moves on despite barking dogs

Racing event tragedy leaves seven dead including eight-year-old child

Two racing drivers arrested over Fox Hill tragedy

New Visa procedure implemented

MIRROR CRICKET

Is Chamari Athapaththu Sri Lanka’s greatest cricketer ever?

Athapaththu back atop ICC Women’s ODI Batting Rankings

Chamari Athapaththu sets big goal for T20 World Cup

How does CSK get best out of Pathirana?

TODAY'S HEADLINES

No footboard riding allowed, no liability for accidents: Railways Department

Six patients claim Rs.600 million from Keheliya and others for permanent loss of sight

SLPP, UNP initiates action for forming broad alliance

Here is the way!

Pakistan lose key players for last two T20Is against New Zealand

Sri Lanka secures third spot in South Asian Kurash Championship 2024

Athapaththu back atop ICC Women’s ODI Batting Rankings

Army forms committee to probe Diyatalawa Fox Hill Supercross accident