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Dipped
Products turnover up 17% in 3Q The Group's profit after tax and minority interest for the period was down 45 per cent to Rs 184.8 million, due largely to an interest charge of Rs.142.2 million which included exchange losses in the period under review, as against an interest income of Rs.5.6 million earned in the corresponding period of the previous year. The costs incurred by way of investments in DPL's Thailand plant and other projects were the main cause, the Group said. The results show that the Group comprising hand protection products and plantations, has generated substantially increased sales in the period under review with income from the hand protection segment up 16.6 per cent to Rs 3.9 billion, while its plantation company's turnover grew 18.3 per cent to Rs 1.4 billion. DPL has reported that consolidated gross profit was up 6 per cent to Rs 1.2 billion at the end of the third quarter. A spokesman for DPL said the Group expects an improved performance in the final quarter of the year and remains positive on future prospects, particularly in the context of capital investments made in new projects and expansion of capacity at existing ones. Dipped Products Thailand Ltd (DPTL), which was affected by the floods of November and December, has since been able to commission all six of its manufacturing lines, and will in due course contribute to the Group's bottom-line. In the plantation sector, Kelani Valley Plantations Limited (KVPL) generated higher volumes and revenue, but operating profit was affected by sluggish tea prices and higher wage costs, the spokesman said. The strong rubber prices in the period reviewed supported by higher production softened the impact. Operating profit in the plantation segment declined by 12 per cent from Rs 153.8 million to Rs 135.1 million. |
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