Dipped Products Records Steady Growth in Revenue

(PRESS RELEASE) - Group turnover for the 9 months of the financial year 2016/17 was 18 billion rupees, compared to 16 billion rupees 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 7 billion rupees for the period. The Hand Protection sector reported a PBT of 598 million rupees which is a 30 percent increase compared to Rs.460 million in the previous period.
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However, the Plantation sector recorded a loss of nearly 357 million rupees 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. The Board of Directors of Dipped Products PLC comprises Messrs. Mohan Pandithage (Chairman), Dr. K. I. M. Ranasoma (Managing Director), F. Mohideen, S. C. Ganegoda, Dhammika Perera, M. Bottino, S. Rajapakse, N. A. R. R. S Nanayakkara, S. P. Peiris, K.D.G.Gunaratne, H.S.R. Kariyawasan and S.M.Shaikh.