Int’l operations boost Dipped Products 2Q

Dipped Products PLC, the non-medical glove maker of Hayleys group, saw its performance improving significantly during the September quarter (2Q19) with positive contributions from the firm’s local and international operations.

The earnings for the quarter under review rose to Rs.2.55 per share or Rs.152.6 million compared to earnings of 69 cents per share or Rs.41.2 million reported for the corresponding quarter last year.

Although the revenue for the quarter rose only 2 percent year-on-year (YOY) to Rs.7.2 billion, the firm was able to contain costs with cost of sales increasing only by 1 percent YOY to Rs.6.1 billion.