The company claimed that “temporary production issues” at the company’s Clayton site coupled with recessionary conditions in New Zealand have led to a pre-tax year-on-year reduction of roughly $AU6 million for the first four months of the year compared with the same period last year.

CEO Brian Evans (pictured) said in a statement he expected the economic conditions in NZ would “remain very tough in the current financial year”.

Evans also claimed that the company’s acquisition of Times Printers, which was announced in September, should begin to yield dividends early next year.

“Importantly, we have already begun to implement print efficiency and optimisation strategies aimed at offsetting anticipated lower print volumes,” Evans said.

“I believe, given our market leadership position, PMP is better placed than its competitors to weather the current challenging economic conditions.”

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