Crown Paints Kenya PLC improved its revenues in 2023 by 9.66% to Kshs 12.49 billion

The net loss in 2023 was as a result of tough macro-economic conditions, exchange rate pressures and global uncertainties that adversely affected the manufacturing sector. The cost of production rose during 2023 while household spending shifted to other priorities. Thus the sale of crown paint products was affected and operating profit reduced from Kshs 1.07 billion in 2022 to Kshs 14 million in 2023 (Source: Crown Paints Kenya PLC 2023 Annual report and Financial Statements 'Business Commentary' section)