Sri Lanka’s Dipped Products records steady growth in revenue

Feb 01, Colombo: Sri Lanka's Dipped Products Group turnover for the 9 months of the financial year 2016/17 was Rs. 18 billion, compared to Rs.16 billion for the same period of the previous year.

The Hand Protection sector contributed Rs. 11 billion to the Group's top line, while the Plantation sector recorded a turnover of Rs. 7 billion for the period. The Hand Protection sector reported a PBT of Rs. 598 million which is a 30% increase compared to Rs.460 million in the previous period.

However, the Plantation sector recorded a loss of nearly Rs. 357 million due to lower crop, mainly arising from adverse weather conditions and restrictions on weedicides.

Established in 1976, Dipped Products is one of the leading non-medical rubber glove manufacturers in the world, and accounts for a 5 percent share of the global market. The company's products now reach 68 countries.