Dankotuwa Porcelain net profit up 880% to Rs 29 mn

Dankotuwa Porcelain has recorded a net profit up 880% to Rs 29 million in the quarter ended June 2017 from a year ago while sales of the group were stagnant at Rs565 million, according to interim results filed with the stock exchange.

The company performance was largely hit when workers stopped work over a pay dispute in July. The company’s quarterly earnings per share were 18 cents compared with two cents the year before. The company is a world class manufacturer of quality porcelain tableware and the group includes Royal Fernwood Porcelain Limited, Fernwood Lanka, Lanka Decals Limited, limited and Taprobane Capital Limited.