Financial News from Sri Lanka: Hayleys Group’s subsidiary Dipped Products PLC (DPL), a leader in the global hand protection glove market, reported Rs. 15.3 billion Group turnover for the six months ending September 2019.The Hand Protection sector contributed Rs 8.6 billion to the Group’s top line.
The Dipped Products Group recorded a profit before tax (PBT) of Rs. 450 million for the period ending 30th September 2019 after absorbing Rs. 94 million loss from Plantations sector. The Group’s profit after tax was Rs 327 million, while the profit attributable to equity holders of the company was Rs 333 million.
Elaborating on the results, the Chairman of Dipped Products Group Mohan Pandithage said, “The overall performance of the Group is satisfactory. The Hand Protection sector results were achieved in spite of stiff competition from regional manufacturers.
Despite the competition our focus on product innovation and quality allowed us to sustain and even grow in some markets. We also continued to integrate sustainability practices into our businesses, improving our processes to serve the industry year-on-year.”