Debt-free Opus ready for 'Just in Time' books
With a new Executive Chairman in Ligare co-founder, Richard Celarc, and a cashed up Hong Kong major shareholder in 1010, the new look Opus Group is gearing up for growth.
It's a brave new year for the diversified printing group following a near death financial experience. Bouncing back with a $28 million capital raising and the involvement of the Hong Kong 1010 group, management is taking a more hands-on approach to the business.
Now with operations in three countries and access to 1010's leverage in terms of buying power, the company is consolidating its position as a key player in the region.
The publishing services division in Australia, with the high-speed HP T400 inkjet is a particular focus for Cliff Brigstocke, CEO. It is a cornerstone of a strategy for readying the company to meet the growing demand for on-demand printing, especially books.
Our strategy and investment in readying the business for local production has also paid dividends. The trend of shorter runs, printed more frequently and ordered later continues to develop rapidly. Described in various terms, we are very well placed for “Print on Demand” or “Justin Time” which is clearly the future for our industry.
Revenue for the publishing service division at $46.4 million was $4.7 million down on the same period the previous year. Brigstocke attributes this to the loss of one large account in the period when the business was under financial strain. However, he claims that overall the base business and revenue held up during the troubled times.
Pleasingly our three main production sites serving the publishing sector had a strong finish to the year. In the read for pleasure sector, it was encouraging to see industry growth in Australia for print, the first time since losing significant distribution outlets when the RED Group/Borders ceased operations.
He is equally bullish about the Outdoor media division with both Sydney-based Cactus Imaging and the Auckland-based OmniGraphics both doing well. Revenue was up 5% in the half year to $11.6 million.
A new Fuji Uvi Star billboard printer in Sydney as well as investments in HP latex print technology, keeps the business at the first rank. Brigstocke flagged similar investments are planned for the Auckland plant.