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PMP to rebrand as Ovato

Friday, 30 November 2018
By Wayne Robinson

New name: PMP to become Ovato

The nation’s biggest printer PMP is to rebrand, with the company telling shareholders at its AGM that from March next year it will be known as Ovato.

The company created the name form the word ovation – getting the strongest response possible. PMP says, “Ovato defines the next stage of the business. Importantly the name delivers a clear, single brand to unify the strengths of the many brands bought together by the merger.”

Company chairman Matthew Bickford-Smith told shareholders at the AGM that the 2017/18 result – which Group sales fall by $108m and an actual EDBITDA of $40m against predictions of $70m – was ‘unacceptable’.

Bickford-Smith pointed to the loss of the Coles magazine and the Pacific Media contract, along with the long time the ACCC took to ok the IPMG merger deal, as reasons for the downturn.

However both Bickford-Smith and company CEO Kevin Slaven told the shareholders the worst was now behind them, and the investment in the new manroland Lithoman 80pp web, due to go into Warwick Farm next year, would herald a new era in efficient print production.

The board highlighted its commitment to the retail catalogue sector, and said it is partnering with a big data provider, Quantium, through which it says will be able to tell its retail customers how much actual money the catalogues are generating at the register.

One Response to “PMP to rebrand as Ovato”

  1. December 02, 2018 at 4:28 pm,

    christopher day
    said:

    How many times have we heard from successive chairmans and CEO results unsatisfactory but will be better next year? Answer at least 30 years!!
    If you loose major long term accounts in a falling market you can only head one way. For the dominant listed company from the industry to perform like this makes it extremely difficult for others in the industry to attract share holders, investors or finance. It was said long while ago if you put 2 non performing businesses together you end up with one non performing business. The number of company’s that have been purchased or amalgamated into PMP (or earlier names prior to News Ltd floating it off as PMP) would run into the hundreds. This is a company that hardly ever made a profit and paid a dividend in the industries boom times how will it in the industry that it is today?

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