Sat, 24 Jul 2021 Today's Paper

Dipped Products 3Q turns Rs.107mn net profit; but plantations weigh

1 February 2017 11:35 am - 0     - {{hitsCtrl.values.hits}}

A A A

Dipped Products PLC (DPL), the non-medical glove manufacturing unit of the Hayleys group, made a net profit of Rs.1.78 a share or Rs.106. 7 million for the quarter ended December 31, 2016 (3Q17) amid strong top line growth while keeping the costs under watch, the interim results filed with the stock exchange showed. 
The profit was against a Rs.78.9 million net loss incurred during the same quarter, last year. 
The group turnover rose by 23 percent year-on-year (YoY) to Rs.6.2 billion while the direct costs rose by 21 percent YoY to Rs.5.1 billion resulting in a gross profit of Rs.1.1 billion, up by a strong 32 percent YoY. 
For the nine months ended December 31, 2016, the company, which also manages plantations, grew its earnings by a modest 13 percent to Rs.1.42 a share or Rs.85. 3 million as much of the profits were wiped out by the troublesome plantation sector performance during the period.   
The revenue for the nine months was Rs.17.7 billion, up 11 percent from the same period a year ago.  DPL’s hand protection segment is recovering from a loss of orders globally amid severe competition and production snags locally due to external factors.     

During the period, DPL started commercial operations of its industrial glove manufacturing facility, D.P.L Universal Gloves. 
The group’s plantation segment faced headwinds during recent times due to lower tea crop that resulted from adverse weather conditions and the ban on weedicides. This segment was further impacted by lower tea and rubber prices that prevailed at the time. 
As a result, for the nine months, the plantation segment of the group turned an operating loss of Rs.140.3 million from a profit of Rs.23.6 million a year ago. 
During the same period, the group’s hand protection segment made an operating profit of Rs.704. 9 million, up from Rs.505. 3 million a year ago. 
As of December 31, 2016 Hayleys PLC held 42.12 percent stake in DPL while the state controlled private sector pension fund, Employees’ Provident Fund, held 12.76 percent stake being the second largest shareholder.  

 

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

  Comments - 0

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

 


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.

Reply To:

Name - Reply Comment


Basil Rajapaksa’s catch 22 situation

Sri Lankan politics has been a good deal of family business. It was not even

“This govt. printed Rs. 880 billions”

This is the roadmap of Zimbabwe

“We are on the cusp of a mothers-led movement for better birth rights in Sri Lanka” – Kanya D’Almeida

Writer Kanya D’Almeida became the first Sri Lankan to win the ‘Commonweal

Two diametrically opposite shows in a military regime

On July 8 (Thursday) we saw diametrically opposite results because the securi



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