The Richard Pieris Group ended its first quarter on a strong note reporting a Group Revenue of Rs.10.3 billion and a Profit Before Tax of Rs.771 m.
The reported Revenue and PBT signifies a growth of 17% and 22% respectively over and above the previous year. The three months ended 30th June 2015 resulted in a very robust performance in all sectors of the Group except the plantations sector which was hampered by a drop in prices of all commodities including tea, rubber and palm oil due to external factors.
The reported profits represent business profits, and do not include any gains of a capital nature.
The Retail Sector of the Group comprises of Arpico Super centres and the network of Arpico outlets scattered island wide.
"The first quarter of the financial year 2015/ 16 started off vibrantly for the retail sector with the "Avurudu siritha campaign" which resulted in a lot of hype leading up to the Sinhala and Tamil New Year.
The focus on Marketing activities continued throughout the quarter along with the popular "Top tips campaign".
The sector also began commercial operations in two Arpico Daily outlets in Hanwella and Attidiya during the quarter under review.
The Plastics and Distribution Sector continued its success of 2014/15 and reported a growth of 90% in its reported Operating Profit for the quarter under review over and above the 1st quarter results of the previous year.The Plantation Sector of the Group experienced a very challenging first quarter facing many adverse factors.
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The reported Revenue and PBT signifies a growth of 17% and 22% respectively over and above the previous year. The three months ended 30th June 2015 resulted in a very robust performance in all sectors of the Group except the plantations sector which was hampered by a drop in prices of all commodities including tea, rubber and palm oil due to external factors.
The reported profits represent business profits, and do not include any gains of a capital nature.
The Retail Sector of the Group comprises of Arpico Super centres and the network of Arpico outlets scattered island wide.
"The first quarter of the financial year 2015/ 16 started off vibrantly for the retail sector with the "Avurudu siritha campaign" which resulted in a lot of hype leading up to the Sinhala and Tamil New Year.
The focus on Marketing activities continued throughout the quarter along with the popular "Top tips campaign".
The sector also began commercial operations in two Arpico Daily outlets in Hanwella and Attidiya during the quarter under review.
The Plastics and Distribution Sector continued its success of 2014/15 and reported a growth of 90% in its reported Operating Profit for the quarter under review over and above the 1st quarter results of the previous year.The Plantation Sector of the Group experienced a very challenging first quarter facing many adverse factors.
www.dailynews.lk
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