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Dankotuwa Group achieves laudable performance

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Dankotuwa Porcelain PLC (DPL), the iconic and globally renowned brand for luxurious and elegant porcelain tableware, recorded impressive results for the 3rd quarter of the financial year 2022/23, according to the latest financial results released to the Colombo Stock Exchange. The Group continued to pursue its growth strategy, in challenging times, and this perseverance enabled the Group to post impressive third quarter (Q3) results. As businesses in Sri Lanka are navigating through a challenging business environment, the results achieved by Dankotuwa Group demonstrates business stability and sustainability.

For the quarter ended 31st December 2022, Dankotuwa Porcelain PLC as a Group (including its subsidiary Royal Fernwood Porcelain Limited – RFPL) recorded a revenue of LKR 1.62 Bn, which was a 47% growth compared to the 3rd quarter of 2021/22.  Furthermore, the Group achieved an overall Gross Profit (GP) of LKR 503 Mn, a 45% growth compared to the LKR 347 Mn achieved in the corresponding quarter of the previous financial year. The Group recorded a PBT of LKR 229 Mn for the 3rd quarter and LKR 864 Mn for the 9 months ended 31st December 2022 (YTD Q3). This achievement of the group is attributed to the increase in National Sales which recorded an 87% increase for YTD of 2022/23 compared to the corresponding period of last year, along with International Sales recording a 49% increase for the same period.

The Board of Directors of Dankotuwa Porcelain PLC comprises of eminent key business personalities such as Yudy Kanagasabai (Chairman), Ranil Pathirana (Deputy Chairman) Revantha Devasurendra, Rohan Peris, Niranjan Wijesekera, Shalike Karunasena and Dr. Sajeeva Narangoda who are responsible for providing strategic leadership, well aligned to generate immense success.

The subsidiary (Royal Fernwood Porcelain Limited) has shown a laudable turnaround – it recorded a revenue of LKR 1.89 Bn, which was a 105% growth compared to the YTD Q3 of 2021/22. Furthermore, RFPL achieved a GP of LKR 610 Mn YTD Q3 of 2022/23, which when compared to that of 2021/22 demonstrated a tremendous growth. As far as PBT was concerned, Royal Fernwood Limited recorded LKR 226 Mn YTD Q3 compared to the Loss before tax of LKR 87 Mn recorded in YTD Q3 of 2021/22.

Dankotuwa Porcelain PLC, as a company, achieved an increase of 119% to record a PBT of LKR 638 Mn YTD Q3 of 2022/23. This was achieved with a 42% increase in sales and a 69% increase of GP of YTD Q3 2022/23 compared to corresponding period of last year 2021/22. The company, had a negative impact of LKR 87 Mn for the quarter ended 31st December 2022, due to the change of income / capital gain tax rate to 30% with effect from 1st October 2022. This negative impact consisted of LKR 33 Mn from Income tax and LKR 54 Mn from differed tax. The impact of the change in the rate of income tax to the Group for the quarter ended 31st December 2022 has reduced by LKR 43 Mn due to the differed tax asset being recorded in subsidiary (Royal Fernwood Porcelain Limited), and there is no income tax impact to subsidiary as it carries brought forward tax losses. Therefore, the net negative impact to Group was recorded as LKR 44 Mn. Accordingly, Group recorded a PAT of LKR 151 Mn for the 3rd quarter and LKR 674 Mn for the 9 months ended 31st December 2022.

Commenting on the performance, Channa Gunawardana, Chief Executive Officer of Dankotuwa Porcelain PLC, and its subsidiary, stated that “Whilst we achieved our best performance in 2021/22, our success in 2022/2023 is a true indication of our business acumen and well thought out strategies. It is a delight to see that we have continued to sustain our performance in 2022/23. As Sri Lanka steers through economic revival, we are committed to contribute to the much-needed economic growth by striving to achieve even better success through our exports. We continue to place our trust in our loyal customers in Sri Lanka, who have been instrumental in, us achieving the results indicated in our reports”. He further appreciated the invaluable contribution from all employees of DPL and RFPL who made this exceptional performance possible.

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 Group has ventured further into new local and global markets, entering new market segments through the introduction of a range of porcelain-based giftware placing Sri Lanka on the global map.

The Board of Directors of Dankotuwa Porcelain PLC comprises of eminent key business personalities such as Mr. Yudy Kanagasabai (Chairman), Mr Ranil Pathirana (Deputy Chairman) Mr. Revantha Devasurendra, Mr. Rohan Peris, Mr. Niranjan Wijesekera, Mr. Shalike Karunasena and Dr. Sajeeva Narangoda who are responsible for providing strategic leadership, well aligned to generate immense success.



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Business

From Mt. Fuji to Sri Pada: Lessons from a father-son climb

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by SK Samaranayake

For Daham Gunasena, reaching the summit of Mt. Fuji with his 12-year-old son was not the end of the journey but the beginning of a different kind of lesson.

Gunasena, Director – Commercial at SPAR Sri Lanka and a senior business leader, academic and Chartered Accountant, spent nearly 12 hours on August 19 climbing Japan’s highest mountain with his son, Methum. After eight hours of climbing, the pair reached the 3,776-metre summit before beginning a demanding four-hour descent to Fujinomiya 5th Station.

“The summit was only halfway,” Gunasena reflected, describing the experience as a lesson in preparation, perseverance and responsibility.

Their journey began two days earlier with a trial excursion to the 6th Station and the volcanic landscape around Mt. Hoei. The experience allowed Gunasena to assess the altitude, terrain, weather and equipment before deciding whether his son was ready for the summit attempt.

The climb itself reinforced the value of taking one step at a time. Rather than focusing on the distant summit, father and son concentrated on the next marker, the next few steps and short periods of rest.

Reaching the summit brought another lesson. After taking photographs and celebrating, they still had four hours of descent ahead of them over loose volcanic terrain.

“Reaching the top was an achievement. Returning safely was success,” Gunasena said.

The experience also prompted him to reflect on how Japan manages Mt. Fuji, including visitor education, digital information, sanitation, transport, safety and environmental protection.

Having climbed Sri Pada 12 times last year and five times so far this year, Gunasena sees opportunities to apply some of these principles in Sri Lanka without compromising the mountain’s unique pilgrimage traditions.

He suggested a comprehensive digital platform for Sri Pada providing information on weather, congestion, transport, sanitation, first aid and emergencies, while educating foreign visitors about its religious significance.

For Gunasena, however, the most enduring lesson was personal: a mountain can teach what lectures cannot—through preparation, perseverance, respect for nature and the shared experience of taking each step together.

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FLIR, Marlbo promote smarter industrial maintenance

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Sri Lankan industries are being encouraged to adopt advanced condition monitoring technologies to detect equipment problems before they develop into costly failures, as global technology company FLIR and its local partner Marlbo Trading Company strengthen their collaboration.

The companies brought together industry professionals at a technical seminar held on August 20 at Taj Samudra, Colombo, focusing on the use of thermography and acoustic imaging to reduce unplanned downtime, improve energy efficiency and lower maintenance costs.

Organised by Marlbo under the theme “Condition Monitoring Using Thermography and Acoustic Imaging for Measurable ROI,” the seminar highlighted the growing importance of proactive and predictive maintenance in improving equipment reliability and operational efficiency.

FLIR Sales Director – Instrumentation, India, Bhaskar Lala, and APAC Condition Monitoring Specialist David Gambarte shared their expertise on the latest diagnostic technologies and their practical industrial applications.

Thermal imaging can identify abnormal heat patterns linked to electrical and mechanical faults, while acoustic imaging can detect problems that may go unnoticed during routine inspections.

The technology is particularly useful in identifying compressed-air leaks, which can cause significant energy losses and increase operating costs.

Shevon Liyanage, Engineer – Measuring Instruments at Marlbo, also shared insights into applying condition monitoring technologies in the Sri Lankan industrial environment.

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Lumbini Tea Valley wins intl award for Singharaja Wirytips

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Chaminda Jayawardana receiving the award

Lumbini Tea Valley Ceylon won an award for its Singharaja Wirytips at The Leafies: International Tea Awards held in London in 2024, marking another international recognition for the Sri Lankan tea producer.

The award comes as the company marks two decades of direct exports, with its premium and organic Ceylon teas now reaching 35 countries across six continents.

Established in 1984, Lumbini Tea Valley began its direct export drive after Chaminda Jayawardana joined the family business in 2000 alongside his father, Dayapala Jayawardana. The initiative materialised in 2006 with the company’s first direct shipment—a 15-kilogram consignment of Flowery Broken Orange Pekoe (FBOP) tea to the United States.

Since then, the company has expanded its direct-export operations, which now account for around 20% of its total manufacturing output. Following its transition to organic production, approximately half of its organic tea output is exported directly by the company.

Its key export markets include Japan, the United States, France, the Netherlands, Switzerland and Australia, with direct shipments now reaching 35 countries.

The company said its direct-export model would continue to expand amid growing international demand for traceable, single-origin Ceylon tea, with premium and organic grades at the centre of its export strategy.

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