Dipped Products PLC, (DPL) the Hayleys Group’s multinational rubber glove manufacturing business, has posted top and bottom line growth for the first half of 2011-12, with higher performance-based growth in manufacturing and capital gains from the sale of shares in the second quarter of the year.
The company said in a press release that local manufacturing improved volumes by 10 % and increased FOB turnover by 41 % to Rs 4.1 billion, enabling the Hand Protection sector to contribute Rs 7 billion (up 27 %) to the group’s 6-month turnover of Rs 9.6 billion.
Turnover from Dipped Products Thailand, the Group’s medical glove manufacturing operation was Rs 1.1 billion. Sales of ICOGUANTI S.p.A., DPL’s Italian marketing company grew 16 % to Rs 2 billion. The plantation sector’s contribution was Rs 3 billion including the turnover of Mabroc Teas which was consolidated from this year.
The DPL group’s profit before tax for the six months ending 30th September grew more than two fold over the corresponding six months of last year to Rs 0.7 billion excluding capital gains. Capital gains from the sale of shares was Rs 1.1 billion.
DPL Managing Director Dr. Mahesha Ranasoma said an emphasis in the second quarter of the year on broadening the supply base, consolidating direct collection of latex, balancing purchases of local and imported latex and the group’s success in exciting some customers with new products had helped this performance.
“We were also able to grow local manufacturing volume by 10 % by focusing on new opportunities with key customers and markets,” he said.
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