PMP stays on the money

Strong first half earnings put PMP in a good position for future acquisitions.

PMP’s net profit before significant items was $29.2 million, a four per cent increase from the previous year. Another boost for the company was a $43.1 million settlement of a tax audit. “Our settlement with the Australian Tax Office frees up significant cash flow over the medium term,” said chief executive, Brian Evans (pictured).

With these victories, Evans said that further acquisitions were on the cards for the company. "We are cautiously optimistic about further acquisitions," said Evans, "but the opportunities have to meet our criteria. We won't just buy business for the sake of buying business."

After the purchase of Times Printers in September last year, which in turn saw parent company Times Publishing gain an 11 and-a-half per cent share of PMP, there is also the opportunity for PMP to expand throughout Asia.

"Now that Times Publishing owns 11-and-a-half per cent of us, there are some opportunities for us to work together," he said. "We want to develop that relationship."