Crown Paints Group's regional hubs in Tanzania, Uganda and Rwanda posted an improved performance in 2016 to help grow the company's revenues by nine per cent to Sh7.3 billion.
The group's profit before tax grew by 26 per cent to Sh272 million from Sh216.7million in 2015, with business in the subsidiaries growing by an average 25 per cent by end of December 2016.
"The regional expansion is now bearing fruits with all our subsidiaries in Rwanda, Tanzania and Uganda posting improved performance. We expect this growth to be sustained as the local manufacturing plants based in Arusha, Mwanza and Dar-e-Salam continue to quickly turn around customer orders and also offer a very wide choice of products," said Crown Paints Group Chief Executive Rakesh Rao.
He said steady expansion of the construction and property sector helped grow the company's sales, with stability in the Kenya and Tanzania currencies also helping keep costs even.
