Books stay a good read for McPherson’s

Global Financial Crisis does not not stop consumers from turning the pages.

In McPherson's Print Group's results for the 2008-09 financial year, printing profits fell slightly, which, according to the company, was mainly due to reduced demand in the commercial segment. It reported that read-for-pleasure publishing volumes are still going steady.

Sales revenue for McPherson’s printing operations were $68.4 million, a small drop of 2.3 per cent from 2008's result of $70.7 million. Trading EBIT was 4.3 per cent, down from 4.7 per cent in the past year.

McPherson’s expects that trading conditions in the book market will remain subdued as the business continues to focus on leveraging investments in technology to contains costs and add value for its customers.

Current managing director of McPherson’s, David Allman, who is due to be replaced by Paul Maguire in October this year, remains positive of the company’s future.

“This was an exceptionally difficult year for the company,” he said. “The fact that McPherson’s has overcome so many challenges and emerged with the resources to continue along its growth path demonstrates the resilience of its operations.”