Piramal Glass Ceylon Plc (PGC), manufacturer of glass containers for food & beverages, pharmaceuticals, cosmetics & perfumery has, the company says, reported its best quarter ever to date. Net sales for the quarter ending 31 December 2010 increased 28%, reaching LKR 1,166M, while gross profits were up 38% to LKR 360M & net profit for the period came to LKR 190M. Sanjay Tiwari PGC's CEO & executive director, announced PGC's results & said, "We're proud to report the best ever quarter for PGC. This quarter has vindicated our investments & hard work. We have invested in some strategic initiatives in the last few years & put in a lot of effort in turning around PGC. We have improved our manufacturing efficiency & realigned our portfolio offerings. We have put a major onus on manufacturing excellence with a view to achieving Six Sigma & the Global implementation of SAP. As a result, we have achieved 84% production efficiency. "The third quarter was an exceptional one for the company, also thanks to the festive season, which played an important part with high domestic sales growing 35% from LKR 663M to 898M. Exports increased by 11% from LKR 244M to LKR 269M, while a significant volume growth of 9% was also seen for the quarter. According to Tiwari, the export market played a significant role.
