Notwithstanding the macroeconomic constraints and conditions that prevailed during the year, Vallibel One Group remained focused on delivering steadfast value to its stakeholders. The Group recorded a revenue of Rs. 30.54 Bn for the second quarter, bringing the organization to reach a cumulative revenue of Rs. 58.26 Bn, resulting in a 5% increase against the previous year\u2019s performance.<\/p>\n
Gross profit recorded an increase of approximately 4.46% against the previous year\u2019s Q2 performance to reach Rs. 13.7 Bn, primarily owing to prudent cost management strategies. Notably, the Group’s profit before tax amounted to Rs. 6.68 Bn for the second quarter, translating to a noteworthy net profit of Rs. 4.47 billion\u2014a very significant 84.8% quarter-on-quarter growth, recording one of the best performances amongst diversified holding companies.<\/p>\n
The Group\u2019s Lifestyle and Consumer sectors contributed to results posted showcasing substantial growth with revenue increases of 18% and 17% respectively, quarter on quarter whilst the Finance sector recorded a 31.9% increase in the income year on year. A commendable top-line coupled with responsible resource management, productivity improvements and well balanced strategies enabled the consumer sector to record a 617% quarter \u2013on- quarter increase in profitability.<\/p>\n
With respect to financial position, the Group recorded an asset growth of 1.3% against the preceding quarter to reach an approximate total cumulative asset value of Rs. 309.76 Bn. Conversely, the Group\u2019s liabilities recorded a reduction of 4.03% to reach a value of Rs. 182.59 Bn against the previous year and shows a 0.9% quarter-on-quarter decrease.<\/p>\n
In light of the Group\u2019s performance, dividends amounting to Rs. 1.13 Bn were declared by Vallibel One PLC for the period ended 30th September 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"
Notwithstanding the macroeconomic constraints and conditions that prevailed during the year, Vallibel One Group remained focused on delivering steadfast value to its stakeholders. The Group recorded a revenue of Rs. 30.54 Bn for the second quarter, bringing the organization to reach a cumulative revenue of Rs. 58.26 Bn, resulting in a 5% increase against the […]<\/p>\n","protected":false},"author":2,"featured_media":13858,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,6],"tags":[],"class_list":{"0":"post-13857","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-biz_news","8":"category-news"},"_links":{"self":[{"href":"https:\/\/topic.lk\/wp-json\/wp\/v2\/posts\/13857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/topic.lk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/topic.lk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/topic.lk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/topic.lk\/wp-json\/wp\/v2\/comments?post=13857"}],"version-history":[{"count":1,"href":"https:\/\/topic.lk\/wp-json\/wp\/v2\/posts\/13857\/revisions"}],"predecessor-version":[{"id":13859,"href":"https:\/\/topic.lk\/wp-json\/wp\/v2\/posts\/13857\/revisions\/13859"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/topic.lk\/wp-json\/wp\/v2\/media\/13858"}],"wp:attachment":[{"href":"https:\/\/topic.lk\/wp-json\/wp\/v2\/media?parent=13857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/topic.lk\/wp-json\/wp\/v2\/categories?post=13857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/topic.lk\/wp-json\/wp\/v2\/tags?post=13857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}