Wellcom earnings up 11 per cent

Australian creative production and marketing services firm Wellcom Group is reporting strong growth for the past financial year, with its profit after tax seeing double digit growth, being $11.72m for the full year, increasing by 10 per cent from $10.6m in the prior corresponding period (pcp).

Revenue came in at $155.1m, up 7 per cent from $145.1m in the pcp.

Wellcom’s net revenue (excluding print management pass through costs) was $107.62m, increasing by 9 per cent from $98.6m in the pcp.

EBITDA came in at $20.49m, up 9 per cent from $18.73m in FY17, while EBIT came in at $17.68m, rising by 11 per cent from $15.97m.

The Australasian region generated a net segment revenue of $56.92m, growing by 6.2 per cent from $53.92m in FY17. The segment result was up by 6.9 per cent, becoming $13.3m from $12.53m the year before. Staff in the area also increased, going from 317 to 354.

[Related: Wellcom revenue up to $75.8m]

The UK on the other hand produced revenue of $18.21m for the full year, up 3.2 per cent from $17.65m the year before while its segment result was $1.44m, slipping 0.5 per cent. Revenue from the US had the strongest growth of the three regions, coming in at $32.4m, rising 18.3 per cent, as its segment result was $6.38m, increasing 29.7 per cent from $4.92m.

Wellcom also owns Wellcom Moving Images, and print management company iPrint Corporate in Australia. The company also operates across Singapore, Malaysia, Hong Kong alongside the US and UK. The company prints catalogues, point of sale, brochures, magazines and newspapers.

Wayne Sidwell, chairman of Wellcom says, “Following a strong finish to the year, we are pleased to report a result reflecting a 10 per cent increase in earnings per share in addition to a significant return of funds to shareholders, totalling 46 cents per share.  

“The demand for high quality visual content continues to grow, with the speed at which brands can produce this content playing a significant role in their success. Wellcom’s expertise is in ensuring that our marketing and advertising creative content is delivered in the right context, with speed, accuracy, and consistency. The business is well positioned for the future, with the ability to service global customers in all leading consumer markets.”

Wellcom is also acquiring Singapore based marketing business Brandsystems, gaining its marketing management resource management system, Brandsystems Marcom Manager.  The transaction is expected to be complete by next month.

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