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Export driven Printcare delivers strong half year performance

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Company focused on caring for inflation-hit employees

Printcare PLC delivered a strong half yearly performance with Group revenues doubling to Rs. 6.8 billion from Rs 3.3 billion from the same period last year driven by sales growth of its innovative packaging material. The Group’s Consolidated Profit Before Taxes increased to Rs. 1.7 billion during the year despite a Rs 240 million increase in interest expense, as a result of increased borrowing to fund the additional working capital at the dramatically higher interest rates, a company news release said.

“The performance of our company has been strong, buoyed by our exports, despite the most challenging environment the business has been forced to operate in, with the country’s political and economic situation making us very vulnerable in every sense,” a spokesman said.

He added “the reputation of the country is badly tarnished and suppliers of raw material are not willing to accept bank letters of credit demanding instead full payment in advance, and on most occasions even before commencing production.”

He further said “our overseas buyers are starting to become wary of relying exclusively on Sri Lankan suppliers and all expansion plans they had with us are currently being reconsidered. It is imperative that the members who represent us in parliament place the needs of our economy first and act in unison.

“Unfortunately we don’t see any signs of this happening. At this time the climbing inflation rates are a huge tax on our work force and to compensate them in some measure businesses must increase their remuneration packages. We are conscious though that all our local customers are also subjected to these same wearing conditions and it has been our foremost priority to support them in every sense for we form a critical part of their end product.”

Printcare Plc is a diversified Group which is a leading supplier of printing and packaging to Consumer Packaged Goods companies including apparel, FMCG, Pharma, Food and Beverage, and Tobacco industries, as well as security printing for the lotteries and telecom industries.Printcare’s mission is to help its customers lead in their respective industries, by providing them with innovative and sustainable packaging solutions, the release concluded.



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Business

The Kingsbury, Colombo Appoints Nandana Wirasinha as GM

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The Kingsbury announced on Friday the appointment of Nandana Wirasinha as its new General Manager. This pivotal appointment heralds an exciting chapter in the hotel’s journey as it continues to redefine excellence and innovation in Sri Lanka’s luxury hospitality landscape.

Wirasinha brings with him nearly three decades of international hospitality experience, having held senior leadership roles with some of the world’s most esteemed hotel brands. His distinguished career spans all facets of hotel management, including operations, revenue strategy, guest engagement, culinary excellence and operational efficiency. Of particular note are his accomplishments at Jumeirah Hotels & Resorts in Dubai and Abu Dhabi, where he played a key role in delivering benchmark-setting service and guest satisfaction.

Renowned for his ability to build high-performing teams and drive sustained revenue growth, Wirasinha has a proven track record of elevating service standards across the board. During his tenure in the UAE, he led multiple award-winning restaurants in Abu Dhabi, four of which received the coveted Triple Black Hat status in the prestigious ‘What’s On Abu Dhabi Black Hat Guide’—widely considered the region’s equivalent of the Michelin Guide. His leadership has consistently translated into enhanced guest satisfaction, operational excellence, and outstanding business performance.

A committed lifelong learner, Wirasinha is an alumnus of Cornell University with a Certificate in Hotel Real Estate Investment and Asset Management. He also holds an Associate of Arts Degree in Tourism and Hospitality from The Emirates Academy, has completed the Cornell CXO Leadership Programme, and is currently pursuing a Master’s in Business Management at the Postgraduate Institute of Management, Sri Lanka.

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Sri Lankan F&B Exporters Participate in Toronto trade show

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More than 15 Sri Lankan food and beverage export companies participated in the SIAL Canada 2025 trade show held at Enercare Exhibition Centre, Toronto, from April 29 to May 1, the SL consulate in Toropnto said.

SIAL Canada is one of the major annual trade shows in the food and beverage sector in Canada, attracting over 1,000 exhibitors and brands from 44 countries, with more than 21,000 professionals from 77 countries in attendance, and representation from all Canadian provinces.

The Consul General visited the trade show and met with the representatives of Sri Lankan companies supporting their efforts to expand their business network with key supply chains and leading retail business entities in the Canadian market.

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ComBank launches timely vehicle leasing promotion

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As new vehicles begin arriving in the country after a lapse of several years, the Commercial Bank of Ceylon has announced it will support the aspirations of vehicle buyers with an attractive leasing package for a limited duration.

The Bank said it would offer special interest rates, customized payment plans, discounts on first-year insurance premiums, a waiver of 50% on commission fees with a minimum charge of Rs 10,000 on Letters of Credit opened, and a free credit card with joining fee and the first year’s annual fee waived off, for leasing facilities obtained before 31st May 2025.

Quick and hassle-free approval of leasing facilities and special discounts on vehicle spare parts would also be part of the package for these customers, the Bank said. These special benefits would apply to leases of unregistered vehicles.

Commercial Bank offers one of the lowest rentals on vehicle leases, Rs 1,598 for every Rs 100,000 for a seven-year lease.

Commercial Bank leasing customers have the option of tailor-made leasing options that suit individual income patterns, via the Bank’s Super Leasing and Hybrid Leasing facilities.

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