Annual Report 2010-2011 - Colombo Stock Exchange

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Sector Review - Service and Other Services and Other The Group re-entered the financial services industry with the formation of its fully owned subsidiary RP Securities (Pvt) Ltd. The Product Portfolio: Real Estate, Insurance, Freight Forwarding and Financial Services Sector Review - Service and Other Richard Pieris and Company PLC | Annual Report 2010/2011 30
Sector Review - Service and Other This sector includes the Group’s holding company, Richard Pieris and Company PLC, and subsidiary companies in various businesses outside of the Group’s main sectors of Plantations, Rubber, Tyre, Retailing and Plastics. It includes companies involved in Logistics, Insurance, Real Estate and Financial Services. Richard Pieris and Company PLC Richard Pieris and Company PLC is the holding company of the Group and is responsible for the overall corporate policy and direction of the Group. Richard Pieris and Company PLC generates a proportion of its income by way of dividends from its subsidiaries. It also owns and rents real estate, including the Hyde Park corner retailing complex and the Nawinna complex which houses the tyre factory, the head office and a Super Centre. The company’s various divisions provide support services to all companies in the Group. This includes services relating to information and communication technology, human resources and procurement. The IT Division provides systems integration, managed services and “end-to-end” services and solutions. This has enabled the Group to generate more value through an innovative approach to business processes, well-integrated supporting technologies and strategic investments. The technical staff have an in-depth understanding of company’s technological needs and businesses and a proven track record of delivering results in many industrial sectors. The division manages the data center, disaster recovery center and central PABX. During the year under review, the internally developed ERP solution, Marksys was rolled out to business sectors of the Group. Within the Marksys system several manual processes in the traditional plantation businesses were automated during the year. The retailing sector was deployed with new Point of Sales software on a Linux platform. The Group Human Resource Division is responsible for the overall HR policy of the Group. It deals with the administrative Services Sector Performance Rs. Mn. 250 200 150 100 50 0 06/07 07/08 08/09 09/10 10/11 Net Turnover Operating Profit Rs. Mn. 600 work relating to employees and coordinates training and staff development. More details on its activities are to be found in the report “Our People” on page 45. The Central Commercial Division handles the procurement of raw materials and consumables, both domestic and imports. It has been successful in passing on the low costs to our SBUs by maintaining sound supplier relations and maximizing economies of scale. The Group Treasury supports funding requirements of all the businesses. It is also involved in negotiating bank facilities to the Group and manages the Group’s foreign exchange exposure and interest rate risks. The Group Corporate Planning Unit coordinates the Group’s overall strategic planning process. It provides expertise to all SBUs to develop and monitor Key Performance Indicators. This unit also analyses all new business ventures, develops business plans and continuously monitors existing businesses in order to ensure optimal allocation of resources. This unit was restructured towards the end of the year. 450 300 150 0 31 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 26 and 27: Sector Review - Plastics Plastics T
Page 28 and 29: Sector Review - Plastics traffic co
Page 30 and 31: Sector Review - Rubber The Group’
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
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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
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Shareholder Information The Ordinar
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Group Real Estate Portfolio Freehol
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Glossary of Financial Terms Contd.
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Notes Contd. Richard Pieris and Com
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Notice of Meeting NOTICE IS HEREBY
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Form of Proxy Contd. INSTRUCTIONS A
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Richard Pieris & Company PLC 310, H
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