Wellcom_FY11-Financial-Report

The group has maintained earnings within the

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Unformatted text preview: 2011 the Group also completed the acquisition of 100% of the share capital of iPrint Corporate Pty Ltd (‘iPrint’), previously a 50% equity accounted joint venture between Wellcom Group Limited and Australian Postal Corporation (refer to note 30). The Group has maintained earnings within the Australasian pre-media operations, notwithstanding significant investment in the Company’s proprietary Knowledgewell software and the start-up capital required to fund operations for future growth within Singapore and Malaysia. The Group’s UK pre-media division has experienced strong earnings growth on the prior year generating earnings before interest, tax and management charges of $728k (2010: loss of $584k). The Group’s strong client base, new business not fully reflected in the results for the year ended 30 June 2011, and the potential for further acquisitions is expected to provide the basis for growth in the next financial year. Operating results for the year The sale of Cadillac Printing necessitated the reclassification of the reported 30 June 2010 financial results, whereby the financial performance...
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This document was uploaded on 02/06/2014.

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