Colourgen bullish about drop in sales?
Colourgen is being bullish about an eight percent drop in revenue for the year ending June 2009. Jeff Biggs, managing director of Colourgen, whose revenue fell to ?11m, said: "In a year which has seen the overall large-format print market shrink by more than 20%, our eight percent 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."
Colourgen showed an operating profit of ?240,000 for the period. During the year, the company launched a number of products to the UK market, including the H&V series solvent printers from Seiko II and a range of laminators from Kala. The company also launched its own range of Elite Essentials inkjet media.
"To remain profitable, we have brought overheads in line with the business opportunities," added Biggs. "Our solid performance through this difficult time, together with some exciting developments in terms of strategic direction and new market sectors, 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."