Accra, Ghana//— Camelot Ghana Plc, a listed security printing and manufacturing company, revealed its revenue growth since 2025 has been driven by its expansion in Flexo Business.
According to the company, the growth has been led by the company’s Flexo Business, which has grown 321% cumulatively since 2022 and now accounts for 34% of total revenue, up from 23% four years ago.
Importantly, this shift in mix has not come at the expense of the company’s traditional lines: Cheque Business revenue has grown every year since 2022, up 140% cumulatively, even as its share of total revenue has fallen — a function of Flexo’s faster growth rather than any weakening in cheque demand (even though volumes have dropped).
Traditional Business, the smallest of the three lines, has also grown steadily, up 102% over the same period. Shareholders’ funds have strengthened alongside the revenue growth, moving from a negative position in 2022 to GHS 6.83 million in 2025.
While, its total revenue reached GHS 36.97 million in 2025, a verified increase of 31.5% year-on-year and the continuation of a four-year growth trajectory that began at GHS 13.41 million in 2022.
Executives of the Camelot Ghana Plc explained to shareholders and investing public at the Ghana Stock Exchange (GSE) Facts Behind the Figures that the momentum had continued into 2026.
As first-half turnover reached GHS 21.40 million, up 9% from the same period last year — a more moderate pace after two years of 72% half-year growth, consistent with a maturing revenue base.
First-half profit after tax rose 19% to GHS 2.61 million, with the PAT margin improving to 12% of revenue, its highest half-year level in the period reviewed.
Workforce Benchmarked Against Industry
Camelot also presented workforce metrics benchmarked specifically against print and manufacturing-sector data, rather than generic cross-industry figures.
Overall employee retention stands at 99%, against a manufacturing-sector benchmark of roughly 72–74%, while retention in critical and skilled roles is 95%, ahead of the 82–90% skilled-trades benchmark.
The internal promotion rate is 10%, well above the roughly 6% manufacturing benchmark, and learning and development investment is 5% of revenue against a 2.9% cross-industry reference point.
Gender balance across the overall workforce is 45%, above the 30% print-industry benchmark, with a target of 50%; management-level gender balance, at 27.27%, remains an area the company has identified for continued progress toward its 30% target.
Commitment to Sustainability Looking ahead
Camelot outlined a three-part plan to embed sustainability into its operations: moving cheque and certificate stock toward FSC-certified, recycled-content paper; shifting toward low-VOC, water-based inks and tracking energy use across its Flexo production lines; and building a formal sustainability policy and reporting line aligned to Ghana Stock Exchange disclosure norms.
The plan is structured in phases, with supplier certification mapping and an ink-and-energy audit already underway.
“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,” John Villars, Managing Director of Camelot Ghana Plc, said.
“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. This is the standard we intend to hold ourselves to as a public company.”
The programme gave analysts and investors a transparent look at the company’s financial performance from 2022 to 2025, the 45-year history behind its current business, and its priorities for the years ahead.
Looking Ahead
Camelot closed the session with a six-point roadmap: expanding capacity for continued Flexo growth, diversifying further into digital printing, introducing AI solutions internally and sectorwide, pursuing printing opportunities in State institutions and agencies, continual market research and product development, and intensifying employee training and engagement.
This roadmap forms the bedrock of our growth strategy to realise tremendous value to all stakeholders.
About Camelot Ghana Plc
Camelot was founded in November 1980 by Mrs Elizabeth Joyce Villars, Ghana’s first qualified female computer programmer, who wrote billing and payroll software for major state institutions — including the Volta River Authority — before founding the West Africa Data Service Bureau (WADSB) Limited, and later, Camelot itself.
What began as a computer paper printing company has grown into a diversified security printing, flexo (flexographic) label printing, web offset printing, document security solution innovator and verification software developer.
The company produces cheque books and other security documents, traditional print products, and Flexo (digital and label) printing, serving customers across Ghana and the West African sub-region.
