Richard Pieris Group Pre-Tax Profits up by 137% to Rs.5.4 billion during first 9 Months

Richard Pieris Group Pre-Tax Profits up by 137% to Rs.5.4 billion during first 9 Months

Richard Pieris Group, one of Sri Lanka’s largest and most diversified conglomerates, achieved a Profit Before Tax (PBT) of Rs. 5.4 billion during the first 9-month period ending 31st December 2024. The Group recorded a major profit growth of 137% over the corresponding period, demonstrating resilience in the continuity of its strong performance for the financial year of 2024/25.

The Group’s Plantations sector recorded a profit of Rs. 3.74 billion, a 52% increase over the corresponding period of the previous financial year. Retail sector profits increased by 12% to Rs.1.73 billion while the Plastic, Furniture, and Electronics sectors’ profits jumped significantly to Rs. 1.03 billion, a 158% increase over the first 9 months of 2023/24.

With over 50 factories spread across Sri Lanka, Richard Pieris Group plays a significant manufacturing role. Its retail arm, which operates a chain of hypermarkets, is a trendsetter in Sri Lanka, with multiple products in the manufacturing sector positioned as market leaders for many years. The Group remains firmly committed to creating sustainable value across diverse sectors while adapting innovative strategies to successfully navigate external challenges and deliver strong financial performances, enhancing the lives of thousands of employees, uplifting local communities, and boosting the national economy.

Dr. Sena Yaddehige, Chairman, Managing Director and CEO of Richard Pieris & Company PLC