Camelot Ghana posts strong financial performance in 2025
Camelot Ghana Plc, the security printing and manufacturing company listed on the Ghana Stock Exchange (GSE), recorded a strong financial performance in 2025, with total revenue rising by 31.5 per cent year-on-year to GH¢36.97 million, as its growing flexographic (Flexo) business continued to drive expansion.
The company’s latest performance represents a significant turnaround from 2022, when revenue stood at GH¢13.41 million, marking a four-year period of sustained growth.
At an investor engagement with the GSE in Accra on Friday, dubbed ‘Facts Behind the Figures,’ the company said its growth had been broad-based, with its Flexo, cheque and traditional businesses all recording increases over the period.
The Flexo business emerged as the fastest-growing segment, recording a cumulative growth of 321 per cent since 2022 and contributing 34 per cent of total revenue in 2025, compared with 23 per cent four years earlier.
The company explained that the shift in revenue mix was not due to a decline in its traditional cheque business. Rather, the faster growth of Flexo had reduced the cheque segment’s proportion of total revenue, despite cheque volumes falling.
Revenue from the cheque business, it said, had nevertheless increased by 140 per cent cumulatively since 2022, while the traditional business also recorded 102 per cent growth over the same period.
The improved performance has also strengthened the company’s financial position, with shareholders’ funds moving from a negative position in 2022 to GH¢6.83 million in 2025.
The positive trend has continued into 2026, although at a more moderate pace. Camelot recorded first-half turnover of GH¢21.40 million, representing a nine per cent increase over the same period last year.
Profit after tax for the first half rose by 19 per cent to GH¢2.61 million, while the profit-after-tax margin improved to 12 per cent, the highest half-year level recorded during the period under review.
The Managing Director of Camelot Ghana Plc, Mr John Villars, said the investor engagement was intended to give shareholders and the wider market a clearer understanding of the company beyond its financial figures.
“Facts Behind the Figures is about giving the market a transparent, evidence-based view of who we are and where we are going — not just the numbers, but the reasoning behind them,” he said.
Mr Villars said the company’s growth was being supported by investments in people, innovation and product development, while efforts were also being made to incorporate sustainability into its operations.
“Our growth has been broad-based, our people metrics stand up against real industry benchmarks, and we are building sustainability into how we source and produce rather than treating it as an afterthought,” he said.
Camelot also outlined plans to gradually introduce more sustainable production practices, including the use of Forest Stewardship Council (FSC)-certified and recycled-content paper for cheque and certificate stock, as well as low-VOC, water-based inks.
An energy audit of its Flexo production lines and supplier certification mapping are already underway, with the company working towards a formal sustainability policy and reporting structure in line with GSE disclosure requirements.
Looking ahead, Camelot said it would expand production capacity to support continued Flexo growth, diversify into digital printing, introduce artificial intelligence (AI) solutions, pursue printing opportunities with state institutions and agencies, intensify market research and product development, and strengthen employee training and engagement.
Founded in November 1980 by the late Mrs Elizabeth Joyce Villars, Ghana’s first qualified female computer programmer, Camelot has evolved from a computer paper printing company into a diversified security printing and manufacturing business serving Ghana and the wider West African sub-region.
BY TIMES REPORTER
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