Despite a challenging economic climate in FY2022/23, the Richard Pieris Group demonstrated remarkable resilience. The company achieved a significant milestone, recording total revenues of LKR 79.1 billion, a commendable 17% increase compared to the previous year’s LKR 67.6 billion. This impressive growth is a testament to the leadership of Dr. Sena Yaddehige and the dedication of the Group’s workforce.
The Group’s financial health remained robust throughout the year. Operating profit saw a 9% rise, reaching LKR 11.7 billion from LKR 10.7 billion. Additionally, total assets grew by 3% to LKR 87.5 billion, and Shareholder Funds witnessed a healthy 7.4% increase to LKR 24.5 billion. This financial strength is further reflected in the Market Capitalisation, which surged by 55.3% to LKR 42.1 billion compared to LKR 27.1 billion in the previous year. The company also prioritized rewarding its shareholders, with the dividend pay-out ratio increasing to 0.29 from 0.18.
Dr. Yaddehige, Chairman, Managing Director, and CEO, expressed his satisfaction with the Group’s continued growth and resilience. He attributed this success to the unwavering dedication and passion of the Group’s employees, who steered the company through challenging economic conditions. Dr. Yaddehige emphasized the Group’s core values, highlighting their boldness and willingness to take calculated risks. He urged all Sri Lankans to embrace these values and contribute actively to the nation’s development.
Looking ahead, the Richard Pieris Group remains committed to creating long-term value across its diverse business sectors. By adapting strategies to navigate external challenges, the company is well-positioned for continued success in the years to come.