Printcare to expand to Kenya

Friday, 27 October 2023 01:25 - - {{hitsCtrl.values.hits}}

Printcare PLC this week announced plans to set up operations in Kenya.

In a filing to the CSE, Printcare said its Board has resolved to form a fully-fledged packaging company in Kenya and it will hold a 69.7% stake in the venture.

Printcare said further details will be made public on finalisation of the current negotiations in progress with the connected parties.

In FY23 Printcare saw turnover grow by 85% to Rs. 14.1 billion and a pre-tax profit of Rs. 1.95 billion, up 45% from FY22 after removing one off gains from disposals. Performance last year was driven by continued strong export and indirect export sales in all of its segments.