Richard Pieris and Company PLC Announces Audited Group and Company Earnings Results for the Year Ended March 31, 2019
July 03, 2019
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Richard Pieris and Company PLC announced audited group and company earnings results for the year ended March 31, 2019. For the year, on group basis, the company’s total revenue was LKR 55,045,358,000 against LKR 52,972,873,000 a year ago. Operating profit was LKR 4,879,021,000 against LKR 5,396,771,000 a year ago. Profit for the period was LKR 2,342,267,000 against LKR 3,077,396,000 a year ago. Basic earnings per share were LKR 0.99 against LKR 1.32 a year ago.
For the year, on company basis, the company’s total revenue was LKR 2,934,631,000 against LKR 2,694,333,000 a year ago. Operating profit was LKR 2,475,327,000 against LKR 2,095,329,000 a year ago. Profit for the period was LKR 1,792,823,000 against LKR 1,649,203,000 a year ago.
Richard Pieris & Company PLC is a Sri Lanka-based holding company. The Company operates through seven segments: Rubber, Tire, Plastic and furniture, Retail, Financial Services, Other Services and Plantations. Its Rubber segment is involved with products, such as mattresses, pillows, latex rings, crutch tips, shoe soles and jar rings, along with specialty items, such as fire-retardant mats, electrical safety mats and anti-static mats. Its Tire segment is engaged in tire retreading, tire trading and manufacturing of industrial solid tires for export. Its Retail segment offers a range of household, fast-moving consumer goods (FMCG), furniture and electronics while also providing value-added services, such as bank service points, ATMs, credit card and mobile bill payment facilities. Its Financial Services segment offers various services, such as insurance, finance, stock broking, margin trading and a logistics arm. Its plantation segment includes tea, rubber, palm oil, coconut, and spices.