After a rocky few years, the Print and Visual Communication Association has reported a $94,000 profit in its 2019 full year accounts marking a substantial turnaround after it recorded a $847,000 loss in the prior year.
The organisation, which changed its name last year from the Printing Industries Association of Australia, recorded 733 members for the year and while its subscription revenue fell from $993,000 last year to $759,000 in 2019, a rise in the valuation of land and buildings owned by the association rose by $174,000.
The PVCA currently has three full time staff: its CEO Andrew Macaulay, Finance Manager Matt Schembri and National Events Manager Jacobena Mills, a member of the 2019 ProPrint Emerging 50 group. It also has consultants available to provide Legal Services guidance.
PVCA chief executive officer Andrew Macaulay said the task of bringing the association back into the black was not easy and involved substantial restructuring of the association but he is pleased with where he has been able to get it to.
“It has been a lot of work bringing a lot of restructuring into play, all of which have had some very long cost tails,” Macaulay told Sprinter.
“We are now through that though and the structure is in place with what we need and what any modern industrial association needs to have.
“The feedback we are getting from our members of the survey we did is that the structure is working and the members are happy with what they are seeing. It’s been a long road but we knew it would take two or three years to turnaround.
“Some people think that you can do these types of things overnight but they are people who have never done it before. I’ve spent my life turning around businesses so that’s where we are today.”
Staffing costs for the association reduced from $1m in 2018 to $847,000 in 2019, while affiliation fees were also reduced with the PVCA no longer affiliated with Two Sides Australia which cost $7500 in 2019, the financial accounts show.
Overall operating costs also reduced from $826,000 to $764,000 marking further savings.
The PVCA remains a member of the Australian Chamber of Commerce and Industry (ACCI).
The 2019 financial accounts are now available on the PVCA website.
An annual general meeting for members will be held online on Friday June 12 with Macaulay urging all members to pre-register in advance through the PVCA’s website.
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