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Subsequent to new marketing drive, Ceylon Printers PLC saw a turnover for the half year at the Company level increasing by 144% over last year.
The gross profit of the Company grew by 261% over the previous year, while net profits after tax for the period reached Rs.1.4 million, compared to a loss recorded in the previous year.
Ravi Rathnasabapathy General Manager Ceylon Printers said that a full restructuring of the company to re-position it as a supplier of quality packaging equipment is underway. “Operational improvements focused on improving productivity, quality and reducing waste resulted in a significant increase in gross margins.”
He said that one of the key reasons for this improved performance has to be attributed to the new management team is in place. “Ongoing operational restructuring to improve productivity, reduce waste and improve quality too has contributed to increase profits.”
“A new marketing drive is now in progress to improve sales focusing on the packaging segment.”
Previously they announced a rights issue, which was a first for the group, as far as anyone knows.