Annual Report 2010-2011 - Colombo Stock Exchange

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Sector Review - Plastics Plastics The year under review was both challenging and rewarding with an exceptional increase in turnover and profits. The Product Portfolio: Water Tanks, Polyurethane Foam Mattresses, Water Pumps, CFL Bulbs, Moulded Plastic & Expandable Rigid Polystyrene Products Sector Review - Plastics Richard Pieris and Company PLC | Annual Report 2010/2011 24
Sector Review - Plastics The Plastics Sector manufactures and markets a wide range of products made of polyurethane foam, rotational moulded plastics, expanded rigid polystyrene, PVC, domestic and industrial based rubber products, and other categories such as water pumps, PVC doors and CFL bulbs. It also manufactures & distributes furniture. The year under review was both challenging and rewarding with an exceptional increase in turnover and profits. Plastic Sector Performances Rs. Mn. 4,000 3,000 2,000 1,000 Rs. Mn. 600 450 300 150 Sales revenue increased by 33% compared to the prior year. Volumes in the Polyurethane, Rigifoam and water tanks divisions grew extensively. 0 06/07 07/08 08/09 09/10 10/11 Net Turnover Operating Profit 0 Manufacturing was well planned resulting in increased productivity, and catered to market demand in terms of both quantity and quality, while keeping in view the need for effective controls on inventory levels. Continued focus on quality control at all stages of the production process and the introduction of innovative processes further strengthened the quality of products. Expanded rigid Polystyrene RPC Polymers manufactures expanded rigid polystyrene products, commonly known as “Rigifoam”. The products include containers, sheets and other products primarily for the fishing industry. The company maintains its position as the market leader with a market share of 50%. The company also exports containers to the Maldives for packaging purposes. The Polyurethane Operation The Polyurethane operation manufactures a range of products which include mattresses, cushions, sheets and other specialized products such as sports goods, bedding for hotel industry etc. Market share of mattresses improved to approximately 45% despite intense competition. The company continued to maintain its profitable record and market leadership position. Value addition to mattresses continued in response to identified customer demand. The company has also ventured into the manufacture of sofas for the local market. Inventory has been carefully monitored and overhead costs were managed effectively. Arpico Flexifoam - which is an ISO 9001:2000 standard company, also possesses the SLS 893 standard. Rotational Mouldings The company has achieved a dominant position in the local moulded water tank market, with the Arpico branded water tanks commanding 46% of the market share. Products are manufactured at the factories in Horana, Pallakalle, Koggala and Dambulla which give easy access to island wide distribution. The wide range of products include water tanks of different capacities, sump tanks, septic tanks and utility products including garbage bins, compost bins and 25 Annual Report 2010/2011 | Richard Pieris and Company PLC
Page 1: Richard Pieris & Company PLC Annual
Page 4 and 5: 4 Financial Highlights 5 Corporate
Page 6 and 7: Financial Highlights 2010/2011 2009
Page 8 and 9: Chairman’s Review Need Image Rich
Page 10 and 11: Chairman’s Review It gives me gre
Page 12 and 13: Chairman’s Review Retail The reta
Page 14 and 15: The Board of Directors [1] Dr. Sena
Page 16 and 17: Sector Review - Retail Retail The s
Page 18 and 19: Sector Review - Retail Special even
Page 20 and 21: Sector Review - Plantations The yea
Page 22 and 23: Sector Review - Plantations Organiz
Page 24 and 25: Sector Review - Tyre The Tyre Secto
Page 28 and 29: Sector Review - Plastics traffic co
Page 30 and 31: Sector Review - Rubber The Group’
Page 32 and 33: Sector Review - Service and Other S
Page 34 and 35: Sector Review - Service and Other T
Page 36 and 37: Corporate Social Responsibility A C
Page 38 and 39: Financial Review Geographical Turno
Page 40 and 41: Financial Review Minority Interest
Page 42 and 43: Financial Review Capital Structure
Page 44 and 45: Risk Management Risk Exposure Group
Page 46 and 47: Risk Management Risk Exposure Group
Page 48 and 49: Our People Another key factor in th
Page 50 and 51: Group Structure PLASTISHELLS LIMITE
Page 52 and 53: Group Structure ASIAN ALLIANCE INSU
Page 54 and 55: Annual Report of the Board of Direc
Page 56 and 57: Annual Report of the Board of Direc
Page 58 and 59: Corporate Governance The Board of D
Page 60 and 61: Report of the Remuneration Committe
Page 62 and 63: Statement of Directors’ Responsib
Page 64 and 65: Balance Sheet Group Company As at M
Page 66 and 67: Cash Flow Statement Group Company 2
Page 68 and 69: Statement of Changes in Equity Attr
Page 70 and 71: Notes to the Financial Statements C
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Notes to the Financial Statements C
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Ten Year Summary Net Turnover Rs. m
Page 108 and 109:
Shareholder Information The Ordinar
Page 110 and 111:
Group Real Estate Portfolio Freehol
Page 112 and 113:
Glossary of Financial Terms Contd.
Page 114 and 115:
Notes Contd. Richard Pieris and Com
Page 116 and 117:
Notice of Meeting NOTICE IS HEREBY
Page 118 and 119:
Form of Proxy Contd. INSTRUCTIONS A
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Richard Pieris & Company PLC 310, H
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