Platypus Graphics has hit its revenue target and forecast further growth thanks in part to the demise of Geon.

General manager Aaron Lusch said the Brisbane firm had been able to "recapture some market share" in its commercial print business due to industry consolidation.

Lusch told ProPrint that the closure of Geon Queensland was "a big part of the attrition in the industry", but that insolvencies at other medium-sized printers such as Dynamic Print Communications and Cynergy had also contributed.

He added that Platypus also planned to grow its commercial business through an expanded product offering, which was why it had recently invested in an Océ Arizona 360 GT wide-format printer.

Lusch also forecast growth in the company's packaging business, which makes up about two-thirds of its revenue.

"We intend to increase packaging sales by actively pursuing the work. There is definitely more market for us to capture and we have the capacity," he said.

[Related: Platypus stars at National Print Awards]

Lusch assumed control over Platypus' day-to-day operations in August when he was appointed general manager. He said his father, Tom, who owns the company, had stepped back to focus on strategy and procurement.

Another part of Lusch's new role is to make Platypus "lean and mean", he said.

"Most customers, and in particular our packaging customers, are constantly under pressure to reduce their cost of goods," he told ProPrint.

"The only way we can help them to do this and still make a margin is to conduct our business better. It means we need to procure smarter as well as streamline our manufacturing operations.

"In the short term we want to improve our plant layout. We are always interested in equipment that will allow us to reduce our overheads and, in turn, provide a healthy return on investment."

Meanwhile, Platypus reported improved results in its most recent ASIC filing, for 2012-13.

Revenue grew 5.2% year-on-year to $21.4 million, while net profit rose 45.7% to $563,000. Platypus forecast in July 2012 that its turnover at the end of the financial year would exceed $21 million.

[Related: More Queensland news]

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