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The Richard Pieris Group ended its performance in financial year 2013/14 reporting a Group Revenue of Rs.34.7 b with a profit before tax of Rs.2.3 bn. The reported profit for the year does not include any gains of a capital nature.
After a successful seasonal campaign the retail sector had a relatively quiet quarter but its marketing activities gained momentum towards the latter half of the quarter with the commencement of the Avurudu Campaign. During the quarter ended on March 31,2014 the sector launched Sri Lanka's first ever retail co-branded credit card in partnership with Standard Chartered Bank.
This Privilege Visa credit card provides numerous rewards and benefits to its users.
The Plastics and Distribution Sector faced a range of challenges during the quarter ended March 31, 2014, which included unfavourable market conditions, low purchasing power of consumer due to adverse economic conditions.
The Sector's products do not constitute a purchase priority in daily life and this proved to be a drawback in the phase of the sluggish economy and the reduced spending power of consumers.
The impact of the wage increase in the plantation sector employees had its impact on the reported results of the period under review. The rubber prices yet again was down when compared to last year and had an adverse impact on the reported results.
- See more at: http://www.dailynews.lk/?q=business/richard-pieris-records-rs347-b-revenue-201314#sthash.UbedZFw2.dpuf
After a successful seasonal campaign the retail sector had a relatively quiet quarter but its marketing activities gained momentum towards the latter half of the quarter with the commencement of the Avurudu Campaign. During the quarter ended on March 31,2014 the sector launched Sri Lanka's first ever retail co-branded credit card in partnership with Standard Chartered Bank.
This Privilege Visa credit card provides numerous rewards and benefits to its users.
The Plastics and Distribution Sector faced a range of challenges during the quarter ended March 31, 2014, which included unfavourable market conditions, low purchasing power of consumer due to adverse economic conditions.
The Sector's products do not constitute a purchase priority in daily life and this proved to be a drawback in the phase of the sluggish economy and the reduced spending power of consumers.
The impact of the wage increase in the plantation sector employees had its impact on the reported results of the period under review. The rubber prices yet again was down when compared to last year and had an adverse impact on the reported results.
- See more at: http://www.dailynews.lk/?q=business/richard-pieris-records-rs347-b-revenue-201314#sthash.UbedZFw2.dpuf
