Dankotuwa Group records commendable performance

Dankotuwa Porcelain PLC globally renowned for its luxurious and elegant porcelain tableware, and manufacturer of superior quality porcelain tableware for reputed international brands, has recorded impressive results for H1 of the financial year 2022/2023 according to the latest financial results released to the Colombo Stock Exchange.

For the quarter ended 30th September 2022, Dankotuwa Porcelain PLC as a Group (which includes its subsidiary Royal Fernwood Porcelain Ltd) recorded a revenue of Rs.1.42 billion, which was a 69 per cent growth compared to the second quarter of 2021/2022. Further, the group achieved an overall Gross Profit (GP) of Rs.603 million, a 100 per cent growth compared to Rs.301 million achieved in the corresponding quarter of the last financial year. The group recorded a pre-tax profit of Rs.267 million for the second quarter which showed an increase of 177 per cent growth from the corresponding period last year, it said in a media release.

Continuing the growth momentum, during the financial year 2022/23 as far as results achieved for the first six months were concerned, Group revenue in the first half stood at Rs.2.84 billion, a 75 per cent increase, when compared to Rs.1.62 billion, achieved during the same period last year.

“Prudent decisions in terms of market expansion with a special focus towards international markets in addition to the implementation of efficient value chain process is said to have resulted in the achievement of these results,” the statement said.

Dankotuwa Porcelain (DPL) as a company posted a revenue of Rs.854 million for the second quarter, an increase of 51 per cent from the comparative period of last year.

Commenting on the performance, Channa Gunawardana, CEO of DPL and its subsidiary, stated: "It was in 2021/22 that we achieved the best performance over the 37-year-old history of DPL, and it's encouraging to see that we have sustained our performance in 2022/23. We will continue to push for export business, a timely need for Sri Lanka and continue to trust our loyal customer base in Sri Lanka, who have given us the results as indicated in our reports.”

Dankotuwa Porcelain PLC, a subsidiary of Ambeon Holdings PLC, commenced its commercial operations in 1984. From superior glazing technologies, personalised designs and endless options, the company continues to create timeless and modern collection of porcelainware that expresses exclusive dining experience for every occasion. The Group has ventured further into new local and global markets, entering new market segments through the introduction of a range of porcelain-based giftware placing Sri Lanka on the global map.

It was in 2021/22 that we achieved the best performance over the 37-year-old history of DPL, and it's encouraging to see that we have sustained our performance in 2022/23.