COLOMBO: The Richard Pieris Group ended its performance in the financial year 2014/15 reporting a Group Revenue of Rs.37.8 billion with a Profit Before Tax of Rs.2.58 billion.
The Plastics and Distribution Sector had a very successful year reporting growths in terms of both revenue and profits when compared with the previous year. The sector continued to dominate the market place in water tanks with heavy media campaigns to support its initiatives. The hybrid mattress introduced to the market in the 3rd quarter continued to gain momentum and is perceived as an innovative brand.
The Plantation Sector of the Group faced many challenges during 2014/15 with adverse weather conditions and low prices.
The Richard Pieris Group possesses 3 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 percent of the Group Turnover.
