The group’s full-year revenue rose 21% to $96.1 million for the 12 months to 30 June 2012. Underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 9% to $16.2 million.
Bottom line profits were dragged $1.8 million into the red due to $4.6 million of one-off costs associated with the merger with McPhersons Printing Group.
The loss was still a 66% improvement on 2010-11, and group chief executive Cliff Brigstocke said Opus would return to profit this financial year. “We’re very proud to have a good set of numbers out there. Our underlying business is in very good shape,” he told ProPrint.
The group’s 2011-12 wins included a multimillion-dollar supermarket contract in New Zealand, a $1 million job to produce new school curriculum titles for Oxford University Press, a $350,000 contract to print Good Food Guide titles for Fairfax and a $250,000 catalogue account in Singapore.
The Publishing division, which includes McPhersons in Melbourne as well as Ligare in Australia and New Zealand and Cos Printers in Singapore, saw a 25.7% rise in revenue to $75.3 million.
The outdoor division, comprising Cactus Imaging in Australia and Omnigraphics in New Zealand, enjoyed a 5.6% rise to $20.8 million.
Net debt worsened by 17.6% to $62.8 million, although the gearing level improved from 71% to 65%.
Brigstocke said Opus would focus on using its “strong operating cash flows” to pay off debt and improve its gearing, which was why it paid off $1.5 million ahead of schedule in June.
Opus said it plans to exploit its international alliances and digital technology to win a greater share of the $109 billion global publishing market.
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