Dipped product 1Q Posts Rs.5.4Bn Turnover

Dipped product PLC (DPL) denote Rs. 5.4 billion in cluster Turnover throughout the 1Q 2016-17, compared to Rs.5.7 billion for constant amount of the previous year. cluster Profit before Tax (PBT) for the amount was Rs. 12.5 million, fromRs. 176 million recorded for the 1Q last year. The Hand Protection phase contributed Rs. 3.21 billion to revenue, a one % increase against 1Q in 2015-16.Contribution to PBT from the phase was at Rs. 134million, thirty two % lower for constant amount of the previous year. The Plantation phase reportable Rs. 2.26 billion in revenue, a thirteen % reduction from the
previous year and a loss of Rs. 122 million, compared to a loss of Rs. twenty million denote for the 1Q last year. Dr. M Ranasoma commenting on the Hand Protection sector results aforementioned “our industrial glove producing facility, D P L Universal Gloves has begun business production and that we square measure currently in an exceedingly position to improve serving client orders”. The low tea crop recorded and also the lower rubber costs prevailed throughout the amount compact negatively to the Plantation sector performance. Established in 1976, swayback product is one among the leading non-medical rubber glove makers within the world, and accounts for a five % share of the worldwide market. The company’s product currently reach sixty eight countries. The Board of administrators of swayback product PLC includes Messrs. Mohan Pandithage (Chairman), Dr. K. I. M. Ranasoma (Managing Director), F. Mohideen, S. C. Ganegoda, Dhammika Perera, M. Bottino, S. Rajapakse, N. A. R. R. S Nanayakkara, S. P. Peiris,K.D.G.Gunaratne,H.S.R. Kariyawasan and S.M.Shaikh.