Book Printing Boosts Opus Profits

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Opus Group, controlled by Hong Kong, which includes Ligare, CanPrint and McPherson’s, increased its after-tax profit by 3% to $ 5.7 million for the fiscal year ended December 2017.

The company, which left the outdoor media market in 2016 to focus on publishing, reported steady growth in its core business – “printing books and the like in niche markets in Australia”, despite lower revenues, which fell 9% to $ 79.2 million .

“2017 being the group’s first full year of manufacturing exclusively in Australia and for publisher customers only, the results are in line with the expectations of the board,” said Opus Chairman Richard Celarc.

“Each of our businesses (Ligare in Sydney, CanPrint in Canberra and McPherson’s Printing in the country of Victoria) have worked hard to refine their core capabilities and consolidate their business operations with a ‘continuous improvement’ mindset. This approach is yielding positive results with consistent growth in our bottom line against declining revenues and we will continue to work to be at the top of our game.

“Investments in equipment and technology will continue and I look forward to improving the close working relationship with our major customers and suppliers in 2018.”

In its statement to ASX, Opus noted that the growing benefits of joint initiatives with majority shareholder Lion Rock Group (formerly 1010 Printing Group), included “the ability to provide customers with multi-country printing solutions. “.

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