Colourgen has announced its financial results for the fiscal year ending June 2009. The company’s revenue was down 8% to £11million, with an operating profit of £240,000.
Jeff Biggs, Managing Director of Colourgen, says “In a year which has seen the overall large format print market shrink by more than 20%, our 8% revenue drop represents a significant achievement. We have retained profitability despite the global recession and the weak pound, while maintaining a healthy balance sheet and strong lines of credit. We also took full ownership of our AmBer Centre premises in Maidenhead, which puts us on an excellent financial footing for the future.”
During the year, Colourgen launched a number of new products to the UK market, including high-performance H & V series solvent printers from Seiko II and a range of new laminators from Kala. The company also launched its own range of Elite Essentials inkjet media, which offers high quality, value solutions to many of the most popular printing applications. “To remain profitable, we have brought overheads in line with the business opportunities, without compromising customer service levels. We continue to respond to customer demand by developing our product portfolio to include the best new printers, laminators, consumables and software, as well as our own value media brand, which has proven to be a real success. We also continue to put our support, maintenance and engineering capabilities at the forefront of the business, ensuring customers get the best possible return from their investment,” adds Biggs.
Biggs concludes, “Our solid performance through this difficult time, together with some exciting new developments on the way, means we are in an excellent position to take full advantage of the upturn in the economy. Performance so far this year is positive and we look to return to year-on-year growth as quickly as possible.”