News / Business

Return to core capabilities pays off for OPUS Group

OPUS CEO and chairman Richard Celarc

Full year results for the year ended December 31, 2016 showing steady growth in both revenue and profit in OPUS Group’s core Publishing Services Division in niche markets within Australia, as well as gains on disposal from C.O.S. Printers Pte Ltd (Singapore) and Cactus Group (Outdoor Media Business in Sydney), see OPUS now operating debt free.

Strong cash flow generation has enabled the acquisition of selected speciality assets, while increasing benefits from joint initiatives with majority shareholder, 1010 Printing Group Limited, include the ability to offer customers multi-country print solutions and procurement savings.

OPUS CEO and chairman Richard Celarc has confirmed the company’s 2016 result is in line with the plans agreed with its Hong Kong listed majority shareholder at the time of the recapitalisation in 2014.

“With 2015 being a year of consolidation and back to basics, 2016 saw us further consolidate and rationalise the business. We are now manufacturing in Australia exclusively, and focused on niche markets Ligare in Sydney, CanPrint in Canberra and McPherson’s Printing (MPG) in country Victoria. Simplifying the business and working hard at the core capabilities of each of our operations is proving very successful.

“As a team operating with a ’continuous improvement’ mentality, we are determined to remain at the top of our game. Our strategies have been set using simple business principles which our customers, staff and suppliers can all relate to. Our debt free status has allowed us to continue to invest in newer equipment and take advantage of changing technology, particularly in digital print where speed, quality and price are now converging.

“We look forward to continuing the close workingrelationships our business has enjoyed with key customers and suppliers in 2017and refine the speed, quality and value proposition we provide. I’d like toreiterate our thanks to all our stakeholders and supporters for their contributionto OPUS, especially our staff, whose hard work and dedication have enabled thebusiness to achieve the results announced.”

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