Royal Ceramics revenues moderate, profits sink as construction activity slumps
| Published date | 07 February 2023 |
| Publication title | Daily Mirror |
Revenues at Royal Ceramics Lanka PLC moderated and the overheads rose sharply, offering a proxy for the housing and broader construction sector slump in the country after the economy crashed sending the prices and interest rates soaring.
The group reported a gross revenue of Rs.18.69 billion for the October-December quarter (3Q23), rising only 7.7 percent year-on-year (YoY), as people and developers stopped or postponed construction work when they could not afford the prices of materials needed for such...
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