Computershare’s stock price has tumbled 13.6 per cent after it posted a 39 per cent fall in profit for the year, with print revenues dipping by five per cent in Australia.

Australia’s second biggest business process outsourcing (BPO) operation reported $207.8m in profit and $2.67bn in revenue, down 2.2 per cent, compared to FY14.

Investors hit the panic button after the announcement, dropping the price from $11.70 to its current $10.11 with it already having fallen 6.5 per cent during the financial year.

Communication services (print and print related) revenue in Australia fell 5 per cent to 134.1m and worldwide 7.7 per cent to $243.6m. Australia is by far the biggest market for its BPO business.

[Related: More financial reports coverage]

Computershare uses high volume web inkjet Ricoh InfoPrint 5000 to print personalised communications like direct mail, small circulation magazines, flysheets, brochures, booklets, coupons, form, and signature pages.

It was the first company to install them in Australia, and installed a fourth line earlier this year, having migrated from cutsheet laser printers. It also this year doubled their speed to 100,000 A4 impressions an hour.

Chief executive Stuart Irving says the Australian communications arm had weaker sales this year and was ‘severely impacted’ by the falling Australian dollar.

Irving highlights a 5.3 per cent rise in EBITDA to $770.2m in constant currency (up 2.5 per cent in absolute terms) showing the company is strong despite lower profit.

“This was delivered in the context of a range of headwinds including the ongoing challenges presented by low yields on client balances,” he says.

“Strong cost outcomes again underpinned the results with top line growth remaining challenging.”

Irving says more of the same is expected next year, with similar challenges and rising costs leading to a forecast 7.5 per cent lower earnings per share for FY16.

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