Wellcom has positioned itself to grow through acquisitions despite a fall in profit and revenue.

The diversified pre-media and digital group reported a $7.9 million profit for the 12 months to 30 June 2013, a year-on-year decline of 18.1%.

Net revenue fell 3.9% to $53.6 million, with the Pre-Media Australasia business seeing revenue fall 2.6% to $47.2 million, according to Wellcom.

"This followed generally soft activity and some pricing pressure across corporations and retailers in Australasia, together with the loss of a significant client in the United Kingdom."

However, the 340-staff group remained debt free in 2012-13 and maintained its cash reserves at $15.5 million.

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"This, in combination with $8.1 million of unused bank facilities, provides significant capital to pursue complementary acquisitions as they arise."

Wellcom said it had cut costs "in response to recent pricing pressure" and was well-placed to expand its services and push into other countries.

"The group’s future growth is expected to be underpinned by continued technological development, together with full-year contributions from recent client wins and a strong pipeline of new business opportunities," according to Wellcom.

Executive chairman Wayne Sidwell said: "The year ended 30 June 2013 has seen significant investment in the future of Wellcom, both in the development of next-generation software products and the establishment of the Malaysian centre of excellence.

"A solid second half to the year has seen the business deliver to forecast and laid the foundation for growth in the years ahead."

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