This Woolworths job is believed to be biggest print contract in Australia, with weekly catalogues going out to every household in the country, currently numbering more than eight million.

PMP has had the Woolies job for the past ten years, the new deal is thought to be for a three year term.

It comes as welcome news to the company as PMP will shut down its Chullora plant in June next year citing a decrease in print based directories.

In his first statement of intent new George said PMP will be going back to basics and focusing on its core competency, printing. The country’s biggest printer is planning to transform its cost structure, and work out of less expensive regional centres. PMP says it is working with the strategic imperative that there is too much heatset capacity in the industry.

The aim is to win back the market share by becoming a low cost winner.

It has been a tough year for PMP which reported a $24.5m net loss for the year to June 30, more than double last year’s net loss of $11.3m, on operating revenue that dropped by an unwelcome 8.4 per cent to $1.1bn.

Earnings before interest and tax and significant items fell to 42.3 per cent to $76.5m. Net debt was slightly up at $143.3m, a $2.3m increase from last year.

George replaced Richard Alley as the company’s CEO on October 22.

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