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Richard Pieris Group: Mismanaged?

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1Richard Pieris Group: Mismanaged? Empty Richard Pieris Group: Mismanaged? Sat Jun 15, 2024 12:57 am

Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Richard Pieris Group: Mismanaged? Img_2310



Comprehensive Analysis of the latest Financial Performance of Richard Pieris and all group companies. #srilanka 

Free Download Link: https://easyupload.io/uexmvn

Overview of Financial Performance
The financial performance of Richard Pieris and Company PLC for the twelve months ended 31 March 2024 indicates several critical issues. The company has experienced significant declines in profitability, efficiency, and overall financial health compared to the previous year, with key metrics highlighting ongoing financial difficulties.


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Richard Pieris Group: Mismanaged? Scree203

1. CaCsh Generation from Operations: Cash generated from operations declined substantially, reaching Rs. 7,918,485,000 in 2024 compared to Rs. 11,177,445,000 in 2023.
2. Operating Cash Flow: Net cash from operating activities improved slightly, reaching Rs. 4,373,392,000 in 2024 compared to Rs. 3,768,754,000 in 2023. However, this increase is insufficient to counterbalance the overall financial declines and reflects the company's ongoing liquidity challenges,
3. Investing and Financing Activities: Net cash used in investing activities was Rs. 3,703,315,000, highlighting ongoing capital expenditures that are not yielding immediate financial returns. Additionally, net cash flows used in financing activities amounted to Rs. 46,298,000, further stressing the company's cash reserves.
4. Cash Equivalents: The company ended the period with a negative cash and cash equivalents balance of Rs. 8,351,475,000, down from Rs. 9,067,851,000 at the beginning of the period. This negative cash position is a significant concern for the company's short-term financial stability.


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Richard Pieris Group: Mismanaged? Scree204

Conclusion
Richard Pieris and Company PLC's financial performance for the period ended 31 March 2024 presents a concerning picture of declining profitability, rising costs, and weakening liquidity. The company must take urgent steps to improve cost control, enhance operational efficiencies, and strengthen its cash flow management to stabilize its financial position and ensure long-term sustainability.


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Richard Pieris Group: Mismanaged? Scree207

Financial Woes at Richard Pieris Group
Comprehensive Analysis of the latest Financial Performance of Richard Pieris and all group companies. #srilanka Free Download Link: https://easyupload.io/uexmvn


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Richard Pieris Group: Mismanaged? Scree208

2Richard Pieris Group: Mismanaged? Empty Re: Richard Pieris Group: Mismanaged? Sat Jun 15, 2024 11:18 am

Biggy


Senior Equity Analytic
Senior Equity Analytic

But why is there a lot of Foreign Buying all the time + Price won't go below 20/- What is it that they but we don't ?

3Richard Pieris Group: Mismanaged? Empty Re: Richard Pieris Group: Mismanaged? Sat Jun 15, 2024 11:28 am

God Father


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Biggy wrote:But why is there a lot of Foreign Buying all the time + Price won't go below 20/- What is it that they but we don't ?

There is no real buying. Its none other than Dr Sena Yaddehige himself who is Manipulating share prices with his front Companies.

List of Front Companies
- Skyworld Overseas Holdings Limited
- Camille Consulting Corp.
- Sezeka Limited
- Rockport Limited
- Dhanasiri Recreation (Pvt) Ltd.

He used these companies to avoid mandatory offer when he bought Richard Pieris and now he is using it to manipulate Stock Prices to his advantage.

Biggy likes this post

4Richard Pieris Group: Mismanaged? Empty Re: Richard Pieris Group: Mismanaged? Sun Jun 16, 2024 10:02 am

Biggy


Senior Equity Analytic
Senior Equity Analytic

Omg what a tradgic demise of a wonderful group in the hands of a mudalali

5Richard Pieris Group: Mismanaged? Empty Re: Richard Pieris Group: Mismanaged? Sat Jun 29, 2024 7:04 pm

Walbaba


Equity Analytic
Equity Analytic


Richard Pieris Group: Mismanaged? Screen32

Travel ban issued against Richard Pieris Group Chairman Sena Yaddehige over alleged sexual abuse

Colombo, June 29 (Daily Mirror) - Kollupitiya Police have obtained a travel ban against Sena Yaddehige, Chairman of Richard Pieris Group, in connection with the alleged sexual abuse of a female business analyst from the company.

Police sources said that the victim, a 39-year-old resident of Colombo, lodged a complaint last month claiming she was sexually abused by the Chairman on May 7 at a star-class hotel in Kollupitiya.

The complainant stated she had been working online as a business analyst for at least a month while the Chairman was overseas. On May 6, she was contacted by the company, which informed her that the Chairman had returned to Sri Lanka and wanted to meet her on May 7.

Upon meeting him at the specified location, the woman alleged that the Chairman sexually abused her. She subsequently reported the incident to the Kollupitiya Police, who then informed the Fort Magistrate.

Sources said that the Chairman left the country on the same day the incident occurred.

https://www.dailymirror.lk/breaking-news/Travel-ban-issued-against-Richard-Pieris-Group-Chairman-Sena-Yaddehige-over-alleged-sexual-abuse/108-286078

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