Dipped Products buys full control of ICOGUANTI

Dipped Products Sri Lanka’s rubber gloves manufacturer in a stock market filing disclosed that they have bought full control of ICOGUANTI, its Italian marketing company.

This is with an investment of Euro 3.2 million.

Dipped Products PLC (DPL) posted Rs. 22 billion in Group Turnover during the financial year 2015-16, a 21 percent reduction from a year ago.

Group Profit Before Tax (PBT) for the period was Rs. 648 million, a 64 percent reduction from the Rs. 1,780 million recorded for the last year.

The firm, part of the Hayleys Group, earlier owned 60% of ICOGUANTI and with this they become a fully owned company of Dipped Products.