The Richard Pieris Group ended its first nine months with a strong growth of 95% in operating profits of all its sectors other than the plantation sector.
The nine months to 31st December 2011 showed steady growth in the group’s retail, plastic and rubber sectors with the company saying “the Group is well poised to achieve its targets during the year with plans underway for an aggressive expansion of its large format super market retail outlets and diversification plans into the financial services sector.”
Group turnover was Rs.8.6 billion and an operating profit of Rs.1 billion for the three months ended 31st December 2011. The turnover for the nine months ended December 2011 was Rs.23.5 billion resulting in a group operating profit of Rs.2.8 billion and a profit before tax of Rs.2.3 billion. |
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