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before Tax grew to Rs. 358 million in 2013/14 from Rs. 309 million in the previous year, a 16% growth.
The group achieved strong innovation driven growth in its carton, tea bags, and security print businesses. “Again, our products won all three prizes in the packaging segment of the national printing awards in 2014, endorsing our position as the most discerning packaging company in the country,” commented Group Chief Operating Officer David Jeyaraj.
The group is well positioned for growth over the next few years. Rs. 800 million investment in plant and machinery has been committed to enhance technology, improve productivity, and increase capacity, and will be a driver of growth in the medium to long term. It is expected to help maintain the company’s position as market leader and to ensure sustainable value creation for its shareholders in the long term.
“In the second quarter of the 2014-15 financial year, we will bring on stream sophisticated new technology, which will provide an enormous boost to the packaging industry. Our customers will be able to access complex and innovative packaging solutions, which previously were neither available to, nor financially viable for them. It is our belief that our customers’ hand will be greatly strengthened by these new offerings, and as a result, their products will exceed the sophistication of competitor products on the supermarket shelves,” commented Chairman Merrill Fernando.
The group has also just concluded a joint venture agreement with a US based company, currently one of the world’s leading suppliers of branded packaging and trims to the apparel industry, which should provide it with a boost in its commitment to further strengthen its product portfolio in the apparel segment.
The Group also uses its existing digital media expertise to create content that will engage and inspire children to learn. ‘Candela’ is a new e-learning product, which is able to bring modern learning techniques to children regardless of the social and economic status of the child. It has been awarded the E-Swabhimani Award by the Information and Communication Technology Agency of Sri Lanka as well as the National Best Quality Software Gold Award.
Printcare was also recognised as one of the 15 best companies to work for by the Great Place to Work Institute in 2014. “We place strong emphasis on our culture, as we believe it is the key ingredient that drives our ability to deliver great client service and to generate sustainable financial and superior operational performance. We consider ourselves to be on par with any printing factory in the world. The relationship we have with our workforce is very special and all our employees work as if the company is their very own,” commented HR General Manager Gamini Jayawardene.
The only printer selected as a Business Super brand, Printcare is a leader in the printing and packaging industries. For over three decades Printcare has been playing a pivotal role in developing Sri Lanka’s pre-packaged tea industry by providing exporters with high quality packaging.
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 FMCG and Apparel sectors, security printing for the Lotteries and Telecom industries, printing and binding for the Publishing industry, and specialised digital media for the Education industry.
