After delivering a $4.67m profit for HY15, Opus Group has more than doubled this result for the full year, bringing in $12m profit after tax. The company has also announced a debt free balance sheet only 18 months after it posted a loss of $11.3m for HY14. Opus’s revenue from ordinary activity was down one percent to $115m in FY15, while its divisional revenues also dropped slightly. Opus Group is an Asia-Pacific printing group with headquarters in Australia, servicing only two platforms, publishing services and outdoor media. Publishing services revenue went down one per cent in the full year result to $94m, and Opus attributed a three per cent drop in its outdoor media revenue to increased competition in the market. The company has now completed the sale of its New Zealand outdoor media business. Opus says the divestment will allow a much clearer focus on its Australian counterpart.
Opus Group CEO Cliff Brigstocke
Commenting on the results, Opus CEO Cliff Brigstocke says the company has delivered on its plan made with majority shareholder, 1010 Printing Group to address its debt situation. He says, “Whilst there is much to be done and we face ongoing challenges with margin erosion and input costs, the result highlights the strategy is working and can be built on. “Focus, discipline and not allowing distractions have been a key element of our plan. Each of our businesses has strong underlying fundamentals and niche sectors where we can add real value to our customers, so we have a good foundation to build upon.” Opus executive chairman, Richard F. Celarc says the company has implemented what he calls a successful formula of a back to basics approach combined with a hands on management style. He says, “To build on our six-month results in this way is testament to all the hard work put in by our team and the strong support we have from 1010. “Our resolve remains incredibly firm and we are doing what we said we would, without distraction and with an increased focus on what matters most to our customers and shareholders.” Opus has announced a fully franked final dividend of 2 cents per share.
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