Dipped Products Group posted Rs 7.5 billion turnover during the quarter ended June 30, 2017, a 37 percent increase from a year ago. Group profit before tax (PBT) for quarter improved to Rs. 93 million.
The Hand Protection segment contributed Rs 4 billion to the revenue, 23 percent higher than the previous year. The sector was able to grow its sales across global markets consistently by developing high quality products catering to customer specific needs. Furthermore the newly commenced Universal glove operations improved its Capacity utilization as a result of customer orders picking up during the quarter. However due to steep increase in latex prices the contribution to PBT from the segment dropped to Rs. 24 mn.
Plantation segment reported Rs. 3.5 billion in revenue and a PBT of Rs. 69 million. Plantation segment performance was affected by adverse weather conditions and restrictions on weedicides.
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