Promentum managing director Alistair Hill says the strength of its financial position allowed the company to reduce its debt/equity ratio to 26.1 per cent as at June 30, 2005 from 64.7 per cent last year and to continue to provide consistent and growing dividends.
“The solid business growth of the Promentum business units has enabled the company to expand in a stable manner,” says Hill. “We are very pleased with our continuing strong performance which is a result of both organic growth and acquisitions. Nearly all of our business units across the country met or exceeded expectations this year, which is underpinned by our strategy of securing contracted work. During the year both our Penfold Buscombe and RT Kelly brands have won new business and retained existing customers, allowing us to expand in a secure and stable fashion.”
The directors have declared a fully franked final dividend of six cents per share compared with three cents per share in the previous year.
In November 2004, Penfold Buscombe Limited changed its name to Promentum Limited, creating new brands for the company’s print-aligned communications businesses including RT Kelly, while retaining the well-established Penfold Buscombe brand for its sheetfed print and communications business.