Compared to the prior year, revenue increased by 8.8 per cent and EBITDA by 13.4 per cent. Net profit after tax was $15.1 million compared to $9.4 million the previous year. BSPG generated cashflow from operating activities of $38.3 million. Overall net debt at 30 June 2005 was $100.8 million and total equity and capital funds were $47.3 million. Total assets as at June 2005 were $230.7 million.
“Generally print demand was strong in both Australia and New Zealand,” says Keith Brodie, managing director of BSPG. “In the early part of the year BPSG’s key focus was on several significant equipment implementations in both our sheetfed operations and at Webstar Australia. These installations were all successfully completed and the resulting lift in capacity enabled BSPG to win several new sizable print contracts. The major benefits from these contracts will be realised in the next financial year.”
The re-establishment of Format, one of the company’s two Wellington-based sheetfed business units, following a major fire on 8th August 2004, went extremely well, according to Brodie. “With support from our staff, suppliers, customers, and other BSPG business units, Format were able to maintain and service all their customers throughout a period where their production capability was severely limited. With a concerted effort from staff, suppliers and building contractors, brand new pre-press, print and bindery equipment was very quickly installed and the business fully re-established by early December 2004.”
In November 2004 BSPG acquired the business of Sydney-based printing company Merritt Madden Printing and its pre-press operations Enhanced Graphics. “These two businesses were successfully folded into our existing Sydney business unit Link Printing,” Brodie says. “Print machinery and bindery equipment purchased as part of the acquisition have been transferred to and installed at four of our business units.”
Webstar Australia is now firmly established as one of Australia’s leading high-quality mid-volume web offset printer winning several medals at the 2005 Australian Print Awards. This is a notable achievement given Webstar Australia’s relatively short history.
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