Dankotuwa Porcelain PLC (DPL) made an after tax net profit of Rs 23.8 million for the year which is a decline from the Rs 31.3 million posted in the previous financial year.
At a Group level with the consolidation of Royal Fernwood Porcelain (RFPL), which was acquired on 31 December 2013, the Group posted a loss of Rs 28.2 million due to the significant losses at RFPL.
Chairman Rajan Asirwatham said the losses at RFPL have now been significantly reduced. However much effort is still required in restructuring the operations of RFPL in the coming year, he said in the company's Annual Report and Audited Financial Statements for the Financial Year ended March 31,2014.
"The acquisition of RFPL was done in a bid to complement and significantly enhance your company's competitive presence in the local and international tableware market,''he said .
RFPL has a largely complementary product line to Dankotuwa Porcelain (DPL) with a strength in coloured and hand painted tableware whereas DPL is more strongly positioned in the higher end of the market in the formal tableware segment.
These combined entities now have a much stronger product offering and economies of scale in marketing and distribution both locally and overseas.
In addition to strengthening the Group's product line and marketing efforts both locally and globally, the Company will also embark on many initiatives in the coming year to significantly enhance the level of innovation in the Group that will lead to better product offerings in the market along with enhanced efficiencies and margins.
Chief Executive Officer Sarath Mallawa Arachchi said the export turnover continued to show a growth in this year, too. It grew from Rs 953.8 million to Rs 1,028.6 million, showing a 7.8% increase.
The company's export turnover passed the Rs one billion mark. The exports to USA increased by 74%. We could achieve 97.2% of budgeted export sales revenue.
The local sales also continued to show a steady growth. The sales figure went up from Rs 574.9 million to Rs 640.2 million, an increase of 11%. This is a remarkable achievement against the budgeted figure. We could hit 102.4% of the local sales budget.
www.dailynews.lk
At a Group level with the consolidation of Royal Fernwood Porcelain (RFPL), which was acquired on 31 December 2013, the Group posted a loss of Rs 28.2 million due to the significant losses at RFPL.
Chairman Rajan Asirwatham said the losses at RFPL have now been significantly reduced. However much effort is still required in restructuring the operations of RFPL in the coming year, he said in the company's Annual Report and Audited Financial Statements for the Financial Year ended March 31,2014.
"The acquisition of RFPL was done in a bid to complement and significantly enhance your company's competitive presence in the local and international tableware market,''he said .
RFPL has a largely complementary product line to Dankotuwa Porcelain (DPL) with a strength in coloured and hand painted tableware whereas DPL is more strongly positioned in the higher end of the market in the formal tableware segment.
These combined entities now have a much stronger product offering and economies of scale in marketing and distribution both locally and overseas.
In addition to strengthening the Group's product line and marketing efforts both locally and globally, the Company will also embark on many initiatives in the coming year to significantly enhance the level of innovation in the Group that will lead to better product offerings in the market along with enhanced efficiencies and margins.
Chief Executive Officer Sarath Mallawa Arachchi said the export turnover continued to show a growth in this year, too. It grew from Rs 953.8 million to Rs 1,028.6 million, showing a 7.8% increase.
The company's export turnover passed the Rs one billion mark. The exports to USA increased by 74%. We could achieve 97.2% of budgeted export sales revenue.
The local sales also continued to show a steady growth. The sales figure went up from Rs 574.9 million to Rs 640.2 million, an increase of 11%. This is a remarkable achievement against the budgeted figure. We could hit 102.4% of the local sales budget.
www.dailynews.lk
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