The Sydney-based company, which is fully owned by AAB Holdings, recorded revenues for the year ending 30 June 2010 of $54.8m, which represented a 2.5% drop from $56.2m in 2008/09.
This led to another year in the black for the company with a net profit of $1.53m, down 30% from $2.22m in 2008/09. Profit before tax stood at $2.23m, up 21% from $1.84m the year before.
Pegasus chief executive Wayne Finkelde told ProPrint: “It’s a pretty fair result for the marketplace, it’s probably better than the industry standard.
“We’re now looking at upgrading our equipment, and we’ve got a plan to improve our profitability going forward.”
“The strategies we’ve got in place are working for us, and we’ll continue to review those on an annual basis,” he added.
The company’s balance sheet was stronger, with net assets up $2.1m from $5.6m in 2009 to $7.8m this year.
However, Pegasus’ trade and other receivables were up nearly 44%. Trade and other receivables for the 2010 financial year were at $24.4m (equivalent to 44.5% of revenue), compared with the 2009 figure of $13.7m (equivalent to 24.3% of revenue).
Total current liabilities were $24.5m, up $6.68m from $17.83m. Borrowing represented the largest part of this increase, up from $490,000 to $6m.
Finkelde did not go into detail on these figures.
Pegasus is based in the western Sydney suburb of Blacktown, and has offices in North Sydney, Parramatta, Melbourne, and Brisbane.
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