Printcare Group triples profit

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 September 30, 2010 from Rs 34.1 million for the same period a year ago. This is an increase of 256 percent.

Group turnover increased by 20 percent 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 have 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.