20 November 2024 12:16 am Views - 36
| Richard Pieris & Company Chairman, MD and CEO Dr. Sena Yaddehige |
Richard Pieris Group, one of Sri Lanka’s largest and most diversified conglomerates, recorded a profit before tax (PBT) of Rs.3.59 billion in the first six months of the FY25, recording a significant profit growth of 184 percent over the corresponding period from the last financial year where the company recorded a PBT of Rs.1.26 billion.
The group’s performance for 2Q is a continuation of the progress it demonstrated in 1Q of the current financial year.
With more than 50 factories spread across the country, the group continues to play a major role in manufacturing while adapting strategies to navigate the external challenges. It also remains resolutely committed to creating sustainable value across diverse sectors.
As the group forges ahead with a focused approach in expansion and modernisation in multiple sectors, the plantations sector has played a major role in driving the growth of the group, with an exceptional performance during the period under review. Richard Pieris Group remains a major player in the plantations sector,
strengthening its position as the largest tea and rubber producer in Sri Lanka and to command a key position in oil palm as the country’s second largest oil palm producer.
The manufacturing sector, with emphasis on sleep solutions and hardware business units, also delivered major revenue and profit growth. Both have been major contributors to the exceptional revenue expansion of the group.