Dipped Products PLC (DIPD), the rubber glove manufacturing unit of Hayleys PLC has recorded a nett profit of Rs.171 million for the December quarter, up from 4.9 percent as opposed to the same period a year ago, amidst soaring rubber prices that impacted the main two businesses of the company- glove manufacturing and plantations-both negatively and positively.
The plantation sector has recorded Rs.282 million operating profit compared to the Rs.176 million in the nine months of the previous year amidst the soaring rubber prices, specially in the December quarter while glove manufacturing earnings fell to Rs.433 million from the previous year's Rs.649 million, due to the same reason, quite ironically.
The operational (administrative) costs of the company have risen to 900 million from 750 million.
Kelani Valley Plantations PLC, a subsidiary company of DIPD has acquired the balance 60% shares of Mabroc Teas (Private) Limited in December 2010.
"The financial statements of Mabroc Teas (Private) Limited will be consolidated with group financial statements from the 4th quarter" the interim results statement of the company said
source - www.dailymirror.lk
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