One of Southeast Asia’s largest brush manufacturers and Sri Lanka’s pioneer in recycled plastic products, BPPL Holdings PLC, recorded impressive key financial indicators for the 2020-21 financial year, while strongly positioning the business for its next phase of expansion.
Overcoming pandemic-induced challenges, for the 2020-21 financial year ended 31st March 2021, BPPL’s Consolidated Revenue grew by a robust 31% year-on-year (YoY) to reach LKR 3.4 billion. Group Gross Profit improved by a stellar 38% YoY to LKR 1.2 billion, Group Profit Before Tax (PBT) was up 20% YoY to LKR 609 million while Group Profit After Tax (PAT) and Profit Attributable to Shareholders increased by 23% YoY to Rs. 497 million.
Laying the foundation for the Group’s next phase of expansion, BPPL commenced the second stage of its of yarn production capacity, undertook product and market diversification and expanding overall exports.
BPPL and its subsidiaries (Eco Spindles (Pvt.) Ltd – a leading manufacturer of polyester yarn and mono-filaments using recycled plastics and Beira Brush (Pvt.) Ltd – one of Southeast Asia’s leading manufacturers and exporters of professional and household cleaning tools) recorded several achievements during the financial year, which boosted the group’s profile, while also further amplifying its sustainability agenda.