Financial Times

Dipped Products to expand in US, Europe and Thailand

By Nimesha Herath

In the midst of increased group turnover of Rs 7,109 million by 16 percent in its financial year which ended March 31, Dipped Products Limited (DPL), plans to expand its operations to the US and Europe, while increasing production volumes in Thailand.

“We have found customers and markets for the large volumes we are beginning to produce in Thailand and we are now able to build and manage large production facilities off-shore.

“We are planning to find new markets in the US, Europe and Thailand,” Rajan Yatawara, Chairman DPL group told The Sunday Times FT. He said that the company’s factory in Thailand makes 500 million medical gloves a year at present and they will be able to sell them to their competitors in Thailand.

The company's recently released annual report recorded performances of non-medical gloves in the hand protection sector as being good, despite dramatic increases in rubber prices, with the group exporting a considerable volume. Revenues from the hand protection sector which include medical gloves from Thailand increased by 18 percent during the year.

Mr. Yatawara said although they were unable to increase the price of the product (rubber gloves) compared to the rise in rubber prices, which have risen by nearly 50 percent during the year, reaching a 10 year high for the raw material, as well as rises in other input prices, the company did considerably well in the mentioned financial year.

Despite a 41 percent decline in profits from the previous year, DPL recorded a profit of Rs 286 million according to their annual report, while the company recorded a Rs 3 dividend per share in comparison to Rs 4 for the previous year.
(NH)

Back to Business