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Book printing drives Opus profits

Wednesday, 28 February 2018
By Print21

The Ligare plant in Sydney.

Hong Kong-controlled Opus Group – which includes Ligare, CanPrint and McPherson’s – increased its profit after tax by 3 percent to $5.7 million for the year ended December 2017.

The company, which exited the outdoor media market in 2016 to focus on publishing, reported steady growth in its core business – ‘book and book-like printing in niche markets in Australia,’ despite a reduction in revenue, which was down 9 percent to $79.2 million.

‘Steady growth in our bottom line’: Richard Celarc, chairman, Opus Group.

“With 2017 being the first full year of the group manufacturing exclusively in Australia and solely for publishing customers, the results are in line with the board expectations,” said Opus chairman Richard Celarc.

“Each of our businesses (Ligare in Sydney, CanPrint in Canberra and McPherson’s Printing in country Victoria) have worked hard to refine core capabilities and consolidate business operations with a ‘continuous improvement’ mentality. This approach is yielding positive results with steady growth in our bottom line against reduced revenue and we will continue to work to be at the top of our game.

“Investment in equipment and technology will continue and I look forward to enhancing the close working relationships with our key customers and suppliers in 2018.”

In its statement to the ASX, Opus noted that increasing benefits from joint initiatives with majority shareholder Lion Rock Group (formerly 1010 Printing Group), included “the ability to offer customers multi-country print solutions.”

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