Colombo, Sri Lanka – 31 August 2026 – Richard Pieris & Company PLC (RPC), one of Sri Lanka’s most diversified conglomerates, has announced a resilient financial performance for the year ended 31st March 2026. The company’s latest Annual Report reveals a consolidated revenue of Rs. 79.1 billion and a commendable Profit Before Tax (PBT) of Rs. 6.4 billion, reflecting the Group’s adaptability and strategic operational focus amidst an evolving economic landscape.
The Group’s financial statements, made public through a Colombo Stock Exchange (CSE) announcement, underscore a 2.9% increase in revenue compared to the previous financial year, demonstrating the inherent strength and diversified nature of its business portfolio. The Profit After Tax (PAT) for the year stood at Rs. 3.7 billion, reinforcing its commitment to delivering value to shareholders. Basic earnings per share (EPS) were recorded at Rs. 1.46, with net assets per share at Rs. 13.75.
Diversified Sectors Drive Performance
RPC’s expansive operations, spanning retail, plantations, rubber, tyre, plastics, furniture & electronics, and financial services, each contributed significantly to the Group’s overall results:
- Retail Sector: Remaining the largest contributor, the retail segment generated Rs. 34.5 billion, accounting for a substantial 44% of the Group’s total revenue. This growth was propelled by a strong focus on customer satisfaction, strategic outlet expansion, and the integration of sustainability initiatives, such as solar panels in large-format stores.
- Plantation Sector: The plantation arm delivered the highest operating profit of Rs. 4.12 billion, contributing 19.1% (Rs. 15.2 billion) to the Group’s revenue. Despite challenges posed by lower tea prices, adverse weather conditions, and increased wage costs, the sector showcased resilience, driven by enhanced productivity and diversification into new crops like coffee.
- Rubber Sector: Contributing 8% to the Group’s revenue (Rs. 6.1 billion), this sector navigated a 17% decline in revenue due to challenging global export markets and geopolitical tensions. However, decisive cost optimization and market diversification, particularly into Asia-Pacific markets, significantly narrowed operating losses.
- Tyre Sector: With a 6.4% contribution to Group revenue (Rs. 5.1 billion), the tyre sector maintained its leadership in Sri Lanka’s retreading industry. Its performance was bolstered by a strong dealer network, operational efficiencies, and a continuous drive towards product innovation, including solid tyres.
- Plastics, Furniture & Electronics Sector: This segment contributed 16.6% (Rs. 13.2 billion) to Group revenue, achieving an operating profit of Rs. 1.78 billion. The success stemmed from effective cost optimization, product diversification across mattresses, water tanks, PVC pipes, and rigorous market-centric strategies.
- Financial Services and Other Sector: This sector recorded Rs. 5.0 billion in revenue, contributing 6.3% to the Group total. Comprising insurance, finance, stockbroking, and logistics, it demonstrated growth momentum, particularly through Arpico Insurance PLC and Richard Pieris Finance Limited, with strategic investments in digital transformation.
Commitment to Sustainability and Governance Excellence
The 2025/26 Annual Report highlights RPC’s unwavering commitment to sustainable value creation. The Group’s sustainability strategy is anchored on three interconnected pillars:
- Environmental Stewardship: Initiatives include expanded solar energy capacity, in-house rubber recycling, and sustainable land management across its 32,000+ hectares of plantation land, aligning with global environmental standards and SLFRS S1 & S2 climate disclosures.
- Social Responsibility: Employing over 17,000 people, RPC prioritizes human capital development, employee well-being (including comprehensive medical benefits and an on-site facility), and community empowerment. Notable efforts include the construction of Child Development Centers (CDCs) in plantation estates under a World Bank-assisted project and the commendable initiative of providing a Braille version of its Annual Report to ensure accessibility for visually impaired stakeholders.
- Governance Excellence: The Group maintains rigorous standards of transparency, ethical conduct, and risk management, complying with CSE listing rules, the Companies Act, and applicable accounting regulations. The adoption of SLFRS S1 and S2 for sustainability-related financial disclosures signifies its leadership in transparent reporting.
Navigating a Dynamic Operating Environment
The reporting period saw Sri Lanka continue its path towards economic recovery, with improving macroeconomic stability. However, the operating environment remained dynamic, characterized by changing consumer behaviour, persistent cost pressures, global uncertainties, and rapid technological advancements. Richard Pieris & Company PLC responded with agility, focusing on operational efficiency, prudent financial management, and customer-centric strategies.
Looking ahead, the Group remains focused on strengthening its diverse businesses, enhancing productivity, and investing in innovation and digital transformation. Its integrated approach to business and sustainability positions RPC for continued long-term value creation for all stakeholders, reinforcing its legacy of “Touching Lives Since 1932.”
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