Dipped Products Group crosses Rs. 2 bln PBT in 2012/2013
View(s):Dipped Products PLC, the Hayleys Group subsidiary involved in the global non-medical rubber glove market, saw its pre-tax profit (PBT) cross Rs 2 billion in the 2012/13 financial year.
The company reported a growth in turnover at Rs. 23.7 billion.
The group’s Hand Protection sector crossed the Rs. 1 billion PBT threshold for the second consecutive year, whilst the Plantation sector contributed Rs. 963 million to the group PBT.
A company statement said overall market conditions in Europe remained challenging during the year. With Europe accounting for nearly 40 per cent of the group’s business these conditions were successfully countered by the company’s concentrated investments into marketing and efforts to gain deeper insights on changing customer needs.
Managing Director, Dr. Mahesha Ranasoma said that in addition to marketing efforts internal cost management through lean manufacturing was key to the year-end performance whilst declining natural rubber prices through the year enabled a favourable price regime.
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