PMP: Interim result 2016

PMP keeps plugging away and the market keeps ignoring it.

Although it wasn’t reflected in the revenue line, which fell 9% to $390m, PMP reported decent interim results. The fall in revenue was mostly a result of one customer purchasing its own paper which is a feed through item for PMP. Excluding this, revenue fell just 3% as the company exited loss-making contracts.

The loss of a contract from PMP’s NZ arm lowered earnings before interest and tax 6% to $14.8m while net profit of $1.8m included $2.7m in post-tax losses from Dick Smith.


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