Pre-media and print management firm Wellcom has reported an eight per cent jump in revenue for the first half of the 2012 financial year. The company also posted a seven per cent increase in profit for the period.
Commenting on the result, Wayne Siodwell, executive chairman of the Wellcom Group says, “This growth has been underpinned by the successful integration of the UK pre-media business, transition of the print management business, and careful cost management in response to pricing pressure.”
Along with the ju8mp in net revenue, Wellcom recorded statutory revenue of $48m for the half year, representing a 65 per cent increase over the same period the year before.
The result includes the sales contribution from the acquisition of IPrint Corporate and Mission Possible along with “new contract wins within the pre-existing business in Australia”.
In July last year, Wellcom bought out Australia's Post's 50 per cent share in iPrint, which the pair formed as a 50:50 joint venture in 2001.
Meanwhile, earnings before tax increased 11 per cent to $7.44m, compared with $6.72m the year before, while the seven per cent jump in profit to $5.27m compares with $4.94m the year before.
In more good news for shareholders, as of December 31, 2011 Wellcom has no net debt, and directors have declared a fully franked interim dividend of 8 cents per share, an increase of seven per cent, which is set to be payed on March 21.
Commenting on the outlook for Wellcom, a company statement to the ASX outlines, “Following the solid first half performance, and based on full year contributions from recent acquisitions and growth in graphic and digital services in Australia, Wellcom remains cautiously optimistic of achieving solid EPSA growth for the year.”