Remember This? PMP sheetfed boosts Promentum revenue - March, 2006
Print21 is the longest running online news service for the Australian and New Zealand printing and graphic arts industry. Take a trip back in time and check out a selection of history highlights from our unrivaled news archive. This month eight years ago Promentum marked the purchase of PMP's sheetfed division and celebrated soaring profits.
Originally published 16 March 2006
Print21 is the longest running online news service for the Australian and New Zealand printing and graphic arts industry. Take a trip back in time and check out a selection of history highlights from our unrivaled news archive. This month eight years ago Promentum marked the purchase of PMP's sheetfed division and celebrated soaring profits.
Originally published 16 March 2006
In the face of what it terms “subdued market conditions”, Promentum secured sales of $90.6 million in the first half of the financial year, up from $65.6 million for the same time last year. Profits also leapt 31.8 per cent to reach $5.5 million, up from last year’s result of $4.2 million.
Alistair Hill, managing director of Promentum, attributed the revenue and profit gains to its purchase of PMP’s sheetfed division, as well as to a number of new blue-chip customers across the financial services, automotive, gaming and entertainment and consumer products sectors.
“We have successfully integrated the recent acquisitions and established a very strong base from which we can expand over the next two years,” says Hill. “The widely reported subdued, but highly competitive market conditions, have not greatly affected our performance.”
The company confirms it will continue to pursue acquisitions, with the strategy underpinned cost control and rationalisation of its operations.
“Promentum is in a good position to take a leading role in the continuing rationalisation of the Australian printing industry, as scale and investment in new technology and equipment is required to stay competitive.”
As part of this investment, Promentum installed a 10-colour perfecting press into its NSW premises in January, replacing two old presses, and in the same month commissioned a second-hand 10-colour press into Queensland. The company’s purchase of the PMP Digital Print Centre in Melbourne in August last year saw it extend into digital print.
Hill points to his company’s extension of its print management capabilities as an area that will deliver significant growth in the future, claiming both its RT Kelly and our Penfold Buscombe businesses are picking up steam.
“Many companies are outsourcing the management of their printing jobs in an effort to contain costs,” says Hill. “We expect that this segment will continue to grow over the next few years and are well positioned to share in this expansion.”