PMG suffers double-digit plunge in profit and revenue

Print Media Group can still call itself a $50 million company despite a plunge in revenue in the last financial year.

Scoresby-based PMG posted a 23.1% year-on-year fall in revenue to $53.2 million, according to its most recent ASIC filing, for 2012-13.

The 254-staff group also experienced a 14.5% decline in profit to $1.9 million.

Director Leo Moio would only comment briefly: "The results last year were in line with our budget," he told ProPrint.

PMG acquired the goodwill and business name of insolvent Melbourne operation Vega Press in 2012-13. It also acquired a minority stake in Brisbane firm Allclear Print and Signs and installed an HP Indigo 7600 in its Sydney factory.

[Related: More Victorian news]

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