Strong revenue, profits from Dankotuwa Group in 2021/22
View(s):Dankotuwa Porcelain PLC, renowned for its luxurious and elegant porcelainware, has posted strong revenue and profit for the financial year 2021/2022.
As a company, Dankotuwa Porcelain PLC, recorded a revenue of Rs.2.36 billion for the financial year 2021/2022, a 56 per cent growth when compared to the Rs.1.51 billion achieved last year.
The company achieved a Gross Profit (GP) of Rs.926.83 million, which was a 116 per cent growth compared to the Rs.428.47 million achieved in the previous financial year. Profit before Tax (PBT) for Dankotuwa as a company was recorded at Rs.465.26 million, a commendable achievement when compared to the loss of Rs.134.53 million made during the corresponding Financial Year 2020/2021, it said in a media release.
Dankotuwa Porcelain PLC as a group (which includes its subsidiary Royal Fernwood Porcelain Ltd) posted a revenue of Rs.3.76 billion, a 55 per cent growth compared to the Rs.2.43 billion achieved last year. The group further achieved a GP of Rs.1.20 billion, a 90 per cent growth compared to Rs.635.49 million and PBT of Rs.211.70 million compared to a loss of Rs.395.96 million posted last year.
However Royal Fernwood Porcelain Ltd, recorded a loss of Rs.121.13 million for the reporting financial year which contributed negatively towards the performance of the group. Nevertheless measures are underway to restructure the company and realign business verticals which will enable convergence of resources and propel positive results during the following year.
Commenting on the results, Channa Gunawardana, Chief Executive Officer of Dankotuwa Porcelain PLC, said: “The journey hasn’t been easy. The pandemic and related lockdown in addition to the political and economic disruptions that affected the lives of Sri Lankans continued to test our resilience and readiness as an organisation to face macro – economic challenges during the year. However, I must state that with a performance driven eco-system and an improved business model which focused on international markets and profitable businesses, in addition to optimising capacity, increased efficiency and improved sales performances supported the sustenance and growth of the business during these trying times.”
He said collective leadership was a concept introduced during the period under review, which enabled all employees to identify their true potential and showcase their best performance within an unfavourable environment. The concept involved implementing six cross functional team members responsible for leadership – individually responsible for a period of two months.
Dankotuwa Porcelain PLC, a subsidiary of Ambeon Holdings PLC, commenced its commercial operations in 1984. From superior glazing technologies, personalised designs and endless options, the company continues to create a modern collection of porcelainware.
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