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To diversify into hotel, education and BPO sectors:
Sanjeevi Jayasuriya
Richard Pieris and Company PLC has recorded impressive results for the 2010/11 financial year recording a growth of 200 percent in operational profit to exceed Rs 3.4 billion. The financial year 2010/11 was a significant year in the 79 years history of the company where the Group posted all time high profits from operations of Rs 3.4 billion. “This signifies a growth of Rs 1.5 billion when compared to the previous financial year,” Richard Pieris Group (RPC) Chairman Dr. Sena Yaddehige said.
The Group will further diversify into hotel, education and BPO businesses.
“We are going in the right direction and will pick and choose the sectors we need to enter where the Group’s growth areas are retail, plastic and plantation sectors at present”.
“There will be a slow entry in to leisure sector and initially we will concentrate on the supply chain,” he said.
There will be another Supercenter opened with an investment of Rs 550 million this year with plans to expand the outlet chain further. The land at the Navinna supercentre will be utilized to set up a highest level technological university with foreign affiliation.
“We will give highest priority to the retail business. The group has the biggest land base and plans to the acquire land to grow vegetables to source its outlets. Plans are also underway to acquire 5,000 acres to cultivate paddy,” he said.
The Group is the largest tea, rubber and palm oil manufacture in Sri Lanka and anticipates the demand for rubber and palm oil to continue to grow.
“We will concentrate on further expanding these sectors with new products and new international markets.
The group will continuously invest where there are growth opportunities while being vigilant of the local market,” Dr. Yaddehige said.
source - www.dailynews.lk
Sanjeevi Jayasuriya
Richard Pieris and Company PLC has recorded impressive results for the 2010/11 financial year recording a growth of 200 percent in operational profit to exceed Rs 3.4 billion. The financial year 2010/11 was a significant year in the 79 years history of the company where the Group posted all time high profits from operations of Rs 3.4 billion. “This signifies a growth of Rs 1.5 billion when compared to the previous financial year,” Richard Pieris Group (RPC) Chairman Dr. Sena Yaddehige said.
The Group will further diversify into hotel, education and BPO businesses.
“We are going in the right direction and will pick and choose the sectors we need to enter where the Group’s growth areas are retail, plastic and plantation sectors at present”.
“There will be a slow entry in to leisure sector and initially we will concentrate on the supply chain,” he said.
There will be another Supercenter opened with an investment of Rs 550 million this year with plans to expand the outlet chain further. The land at the Navinna supercentre will be utilized to set up a highest level technological university with foreign affiliation.
“We will give highest priority to the retail business. The group has the biggest land base and plans to the acquire land to grow vegetables to source its outlets. Plans are also underway to acquire 5,000 acres to cultivate paddy,” he said.
The Group is the largest tea, rubber and palm oil manufacture in Sri Lanka and anticipates the demand for rubber and palm oil to continue to grow.
“We will concentrate on further expanding these sectors with new products and new international markets.
The group will continuously invest where there are growth opportunities while being vigilant of the local market,” Dr. Yaddehige said.
source - www.dailynews.lk
