Printcare Group triples profitability

Thursday, 21 October 2010 05:02 - - {{hitsCtrl.values.hits}}

Sri Lanka’s global player in the printing and packaging industry, Printcare Plc more than tripled its Profit Before Tax to Rs. 121.3 million for the six months ended 30 September, 2010 from Rs. 34.1 million for the same period a year ago. This is an increase of 256%.

Group Turnover increased by 20% to Rs. 1.67 billion in 2010 from Rs. 1.39 billion in 2009 as a result of increased export demand for packaging, especially from the buoyant global tea segment. This growth in demand combined with the Group’s increase in market share in many of its segments has helped significantly improve turnover and profitability.

The productivity measures implemented over the last two years helped the Group grow turnover and profitability with little need to increase capacity. However, Printcare is now looking at making new machinery investments in the next few months, bringing new technology to the country that will ensure it continues to give its customers a competitive advantage in their packaging.

Printcare continues to grow as its customers use its high quality, innovative, and reliable products and services, to strengthen their brands, grow their sales and capture market share.

Printcare’s investment in cutting edge technology, combined with its innovative processes and highly skilled staff, ensures that it continues to be one of the leading providers of printing and packaging in the South Asian region.

Selected as a Business Superbrand, Printcare is a leader in the printing and packaging industries. Well known for being the global leader in tea bag tags and envelopes, supplying the world’s most reputed tea brands, Printcare is now a diversified Group which is also involved in printing and packaging for the apparel and FMCG sectors, security printing for the lotteries and telecom industries, printing and binding for the publishing industry, and specialised pre-media services.