Richard Pieris pre-tax profit rises
View(s):Richard Pieris Group, one of Sri Lanka’s top conglomerates, achieved a Profit Before Tax (PBT) of Rs.5.4 billion during the first 9-month period ending December 31, 2024. The group recorded a profit growth of 137 per cent over the corresponding period, demonstrating resilience in the continuity of its strong performance for the financial year of 2024/25.
The group’s Plantations sector recorded a profit of Rs.3.74 billion, a 52 per cent increase over the corresponding period of the previous financial year. Retail sector profits increased by 12 per cent to Rs.1.73 billion while the Plastic, Furniture, and Electronics sectors’ profits jumped significantly to Rs.1.03 billion, a 158 per cent increase over the first nine9 months of 2023/24, the company said in a media release.
With over 50 factories spread across Sri Lanka, Richard Pieris Group plays a significant manufacturing role. Its retail arm, which operates a chain of hypermarkets, is a trendsetter in Sri Lanka, with multiple products in the manufacturing sector positioned as market leaders for many years, the statement said. The group, it added, remains firmly committed to creating sustainable value across diverse sectors while adapting innovative strategies to successfully navigate external challenges and deliver strong financial performances, enhancing the lives of thousands of employees, uplifting local communities, and boosting the national economy.
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