Dipped Products ups 1H revenue to Rs. 11.5 b

Tuesday, 1 November 2016 00:34 - - {{hitsCtrl.values.hits}}

Dipped Products Plc (DPL) Group has posted a turnover of Rs. 11.5 b in the first half of the 2016/17 Financial Year up from Rs. 10.9 b a year earlier.

In a statement, the company said the Hand Protection sector contributed a modest Rs 7.0 b to the group’s top line, while the plantation sector recorded a turnover of Rs. 4.5 b for the period. The hand protection sector reported a PBT of Rs. 398 m compared to Rs. 344 m in the previous period. However, the plantation sector recorded a loss of nearly Rs. 400 million m due to lower crop yields, mainly arising from adverse weather conditions and the ban on weedicides, which was further impacted by lower prices during the period. 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.