Richard Pieris Group records Rs 79.1 Bn revenue in FY 2022/23,

Despite a volatile domestic and global economy in FY2022/23, the Richard Pieris Group, delivered a resilient financial performance reordering revenues of LKR 79.1 billion, representing 17% growth, an increase from LKR 67.6 billion in the previous year.

Led by visionary leader Dr. Sena Yaddehige the group’s Operating profit grew by 9% to LKR 11.7 billion from LKR 10.7 billion. The Group also maintained a strong financial position, with total assets growing by 3% to LKR 87.5 billion and Shareholder Funds growing by 7.4% to LKR 24.5 billion. In addition, Market Capitalisation was LKR 42.1 billion, up 55.3% from LKR 27.1 billion the previous year. Dividend pay-out ratio increased to 0.29 from 0.18, and dividend per share.The Group’s Chairman, Managing Director, and CEO, Dr. Yaddehige, expressed delight, acknowledging the company’s continued growth and resilience.

Through the perseverance and passion of the Group’s people, it has emerged stronger during macro-economic storms.“We are bold. We go where others do not go, do not dare to go. We take

chances, we take risks. That is who we are. You should not be scared of doing hard things to start life. Part of being Sri Lankan is being grateful to any little thing anybody could do for you. That is our Sri Lankan nature. Not think of what the country can do for you. Each and every one of you, well educated, experienced, intelligent people – think of what you can do for the country.”

The Group remains firmly committed to creating sustained value across diverse sectors, while adapting strategies to navigate external challenges.

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