Commenting on this result, CPI’s Chief Executive Officer, Steve Somogyi said “As already reported by our competitors in the market, CPI has experienced the same weak demand and consequent lower prices for paper for yet another year. Clearly, therefore, we have focussed on cost management as well as a number of capital management and cash generation initiatives and, as can be seen with this result, with some considerable success. We have already put in place some further initiatives to ensure additional improvements in working capital and cash flow generation in the coming year. We continue to look for signs that economic activity.

The move to represent Agfa imaging consumables and equipment to the Company’s client base was started during the year as well as a new agreement to represent Dianippon Screen imaging equipment in Australia and New Zealand and a further 3 year renewal of the 24 year old agreement to represent the Komori (of Japan) range of printing presses. CPI also became the sole distributor of Hartmann sheet-fed printing inks in Australia putting the Company in the unique position of offering the most diverse range of pre-press products and consumables in the marketplace.

Meanwhile, Bernard Cassell has been appointed Managing Director of CPI. Cassell joined CPI in 1984. He was formerly Finance Director and Chief Operating Officer and Executive Director. As a result Mr Cassell brings to the role a deep understanding of the graphic arts industry and in particular the dynamics of servicing their needs with a broad range of products and services.

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