The Richard Pieris Group ended its first half year reporting a Group Revenue of Rs.21 billion and a PBT of Rs.1.7 billion.
The six months ended September 30, 2015 resulted in a moderate performance in all sectors of the Group except for the plantations sector where the entire industry is in a crisis with declining volumes and prices.
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 centers, super stores and the network of Arpico outlets scattered island wide.
During the second quarter of the financial year the sector continued to focus on marketing activities through its top tips campaign. The Plastics and Distribution Sector reported an Operating Profit of Rs.644 million during the six months ended September 30, 2015.
The steady demand for water tanks which prevailed at the beginning of the period under review lost its momentum towards the end of the quarter due to adverse weather conditions.
The rigifoam sales were also adversely affected due to poor weather conditions and rough seas.
The Plantation Sector of the Group experienced a very challenging first six months facing many adverse factors.
The Richard Pieris Group possesses three of the largest plantation companies in the country with diverse crops which includes high grown, mid grown and low grown tea, rubber, oil palm, coconut, cinnamon, cardamom, rambutan and other crops contributing to more than 15% of Group Revenue.
The Tyre Sector reported an Operating Profit of Rs.316 million during the six months ended September 30, 2015.
The Rubber Manufacturing Sector reported an Operating Profit of Rs.358 million during the six months ended September 30, 2015.
The Financial Services Sector of Richard Pieris Group consists of its own life insurance, stock broking, fund management and a finance company. The Sector reported an Operating Profit of Rs.99m during the six months ended September 30, 2015.
The six months ended September 30, 2015 resulted in a moderate performance in all sectors of the Group except for the plantations sector where the entire industry is in a crisis with declining volumes and prices.
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 centers, super stores and the network of Arpico outlets scattered island wide.
During the second quarter of the financial year the sector continued to focus on marketing activities through its top tips campaign. The Plastics and Distribution Sector reported an Operating Profit of Rs.644 million during the six months ended September 30, 2015.
The steady demand for water tanks which prevailed at the beginning of the period under review lost its momentum towards the end of the quarter due to adverse weather conditions.
The rigifoam sales were also adversely affected due to poor weather conditions and rough seas.
The Plantation Sector of the Group experienced a very challenging first six months facing many adverse factors.
The Richard Pieris Group possesses three of the largest plantation companies in the country with diverse crops which includes high grown, mid grown and low grown tea, rubber, oil palm, coconut, cinnamon, cardamom, rambutan and other crops contributing to more than 15% of Group Revenue.
The Tyre Sector reported an Operating Profit of Rs.316 million during the six months ended September 30, 2015.
The Rubber Manufacturing Sector reported an Operating Profit of Rs.358 million during the six months ended September 30, 2015.
The Financial Services Sector of Richard Pieris Group consists of its own life insurance, stock broking, fund management and a finance company. The Sector reported an Operating Profit of Rs.99m during the six months ended September 30, 2015.
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