The Group’s Singapore operation is growing and is providing some offset to the subdued trading conditions from its local publishing operations, which were impacted by a slowing in Government expenditure. The Government’s expenditure for the 2013 FY is projected to be at the lowest level recorded since 1996/1997 which will adversely impact the company.

Opus Group’s strategy to focus on Asia and the introduction of new services such as digital production has provided a buffer for the softer local market conditions

Cliff Brigstocke, CEO, Opus told Australian Printer, “We are in good shape despite the challenge with the government cuts in printing which has hurt the company. We are continuing to grow in Asia and we are looking to put our footprint into the Asian market.”

Brigstocke says, “Annualised cost savings of $2.3m have been achieved thus far with the integration of the McPherson’s Printing business into the Opus Group progressing well. During the first quarter of FY 2013, a number of additional cost reductions have been identified and implemented specifically within the Group’s publishing division. Efficiency gains achieved across the Group through the consolidation of production together with increased leverage in our digital production investments should position the Group to deliver a stronger result in the second half of the year.”

Opus Group reported a net loss after tax of $1.8m for the 2012 financial year, which is a 65 per cent improvement on the previous year, and was the result of one off $4.6m costs associated with its buyout of McPherson’s.

The Outdoor Media division has seen an improvement on the trading conditions experienced in Q4 FY 2012.

The results included three months trading for McPherson’s Printing (MPG) and the merger with MPG on March 30, 2012. The results also include pre-tax costs related to transaction, merger and restructuring costs activities of $4.6m.

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