Richard Pieris Group celebrates excellence highlighting achievements and unveils future roadmap

The Richard Pieris Group, led by visionary leader Dr. Sena Yaddehige, has evolved into one of the largest and most diversified conglomerates in Sri Lanka. With a 91-year legacy, the Group operates across multiple sectors. Today, the Group is an integral part of Sri Lankan lives and a catalyst for economic progress.

From a modest beginning of a filling station in 1932, Richard Pieris Group has experienced phenomenal success, growing into one of the top diversified business conglomerates in the country with interests in Retail, Plantations, Rubber, Furniture, Tyres, Plastics, Insurance, Stock brokering, Financial services, and Logistics. It is one of the largest listed entities on the Colombo Stock Exchange. The Group is known for its acclaimed brand identity, Arpico.

Dr. Sena Yaddehige, the Visionary leader driving the Group’s strong foundations, is a prominent businessman, entrepreneur, and Chairman, Managing Director, and CEO of the Group. He is an ingenious scientist, engineer, inventor, and Swiss-based entrepreneur with a remarkable track record. Dr. Yaddehige’s expertise and leadership have been instrumental in the development of the largest automotive sensor business in the UK, leveraging innovative technology and numerous patents. He has also pioneered radiation processing innovations.

Under Dr. Yaddehige’s strategic direction, despite a volatile domestic and global economy in FY2022/23, the Group delivered a resilient financial performance. The Group recorded revenues of LKR 79.1 billion, representing 17% growth, an increase from LKR 67.6 billion in the previous year. 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.

To further acknowledge its exceptional performance and demonstrate its commitment to growth, the Group hosted an exclusive gathering with over 500 attendees, including business leaders and diplomats. The Group also unveiled its strategic roadmap, including its vision for 2024 and beyond.

The Group’s Chairman, Managing Director, and CEO, Dr. Sena 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.