- Commendable financial results by Dankotuwa Porcelain PLC as the Company.
- The Company grew it’s Revenue by 56% and GP by 116% compared to the last financial year.
- The Company recorded a PBT of LKR 465.26 Mn.
- The Group (including Royal Fernwood Porcelain Limited) recorded a revenue growth of 55% and GP 90% compared to the last financial year and resulted a PBT of LKR 211.70 Mn
- The concept of “Collective Leadership” combined with an established focused strategy propelled the Groups’ performance.
Dankotuwa Porcelain PLC, renowned for its luxurious and elegant
porcelainware, posted commendable results for financial year 2021/2022 according to the
latest financial results released to the Colombo Stock Exchange.
As a Company, Dankotuwa Porcelain PLC, recorded a revenue of LKR 2.36 Bn for the financial
year 2021/2022 a 56% growth when compared to the LKR 1.51 Bn achieved last year. Further,
the Company achieved a Gross Profit (GP) of LKR 926.83 Mn, which was a 116% growth
compared to the LKR 428.47 Mn achieved last financial year. The Profit before Tax (PBT) for
Dankotuwa as a Company was recorded at LKR 465.26 Mn, a commendable achievement when
compared to the loss of LKR 134.53 Mn made during corresponding Financial Year 2020/2021.
Dankotuwa Porcelain PLC as a Group (which includes its subsidiary Royal Fernwood Porcelain
Limited) posted a revenue of LKR 3.76 Bn, a 55% growth compared to the LKR 2.43 Bn achieved
last year. The Group further achieved a Gross Profit (GP) of LKR 1.20 Bn, a 90% growth
compared to LKR 635.49 Mn and Profit before Tax (PBT) of LKR 211.70 Mn, an impressive
increase compared to the loss of LKR 395.96 Mn posted last financial year.
Royal Fernwood Porcelain Limited, recorded a loss of LKR 121.13 Mn for the reporting financial
year which contributed negatively towards the performance of the Group. However, currently,
measures are underway to restructure the Company, and realign business verticals which will
enable convergence of resources and propel positive results during the following year.
“It is indeed a proud moment for us to announce the remarkable performance of the
organization” stated Mr. Channa Gunawardana, Chief Executive Officer of Dankotuwa Porcelain
PLC. “The journey hasn’t been easy. The pandemic and related lockdown in addition to the
political and economic disruptions that affected the lives of Sri Lankans continued to test our
resilience and readiness as an organization to face macro – economic challenges during the
year. However, I must state that with a performance driven eco-system and an improved
business model which focused on international markets and profitable businesses, in addition
to optimizing capacity, increased efficiency and improved sales performances supported the
sustenance and growth of the business during these trying times” Mr. Gunawardana stressed.
Elaborating further, Mr. Gunawardana stated that “collective Leadership was a concept
introduced during the period under review, which enabled all employees to identify their true
potential and showcase their best performance within an unfavorable environment. The
concept involved implementing 6 cross functional team members responsible for leadership –
individually responsible for a period of two months. Hence, for the period of a year, the
Company was able to work in Collective Leadership to record this impressive performance.
Commenting further, Mr. Gunawardana highlighted the role of employees in the Company’s
success so far. “Significant progress has been achieved in creating a more cohesive
organizational structure and a target driven progressive culture across the Group. Our
employees are firmly committed in achieving the milestones drawn for the organization,
abiding by the trust placed by our stakeholders. This resulted in the Company winning the ‘Best
Workplace in Manufacturing and Production Industry in Sri Lanka’ an accolade given by the
independent analysts at Great Place to Work® in Sri Lanka. With the strategy in place and the
ideal structure and employees to complement same, we will continue to mark our presence as
a lifestyle brand both locally and internationally, placing Sri Lanka on the global map for quality
porcelainware” Mr. Gunawardana concluded.
Dankotuwa Porcelain PLC, a subsidiary of Ambeon Holdings PLC, commenced its commercial
operations in 1984. From superior glazing technologies, personalized designs and endless
options, the Company continues to create timeless and modern collection of porcelainware
that expresses exclusive dining experience for every occasion. The Financial Year 2021/22 saw
the Group moving away from traditional tableware and venturing into new segments,
introducing a range of porcelain-based giftware into local and global markets.
The Board of Directors of Dankotuwa Porcelain PLC comprised of eminent personalities who
were responsible for providing strategic leadership which resulted in the successes recorded
are Mr. Yudy Kanagasabai (Chairman), Mr. Revantha Devasurendra, Mr. Rohan Peris, Mr.
Neranjan Wijesekera, Mr. Shalika Karunasena and Dr. Sajeeva Narangoda.
