Financial highlights

Record financial results

Pindar announced on 10 June 2005 that sales revenue for the last financial year (to September 2004) broke the £100m barrier for the first time in our history.  The company reported total group turnover of £104m, and an impressive 12% growth year-on-year.

The record figures were achieved on the back of an extensive expansion of Pindar’s main printing plant in Scarborough, Yorkshire. The site’s facility space has been almost doubled in size, allowing for increased volumes and the introduction of new services, such as perfect binding and storage, that were previously outsourced.

Adding to the growth of the company’s record figures was the first time contribution of our catalogue software - Agility CMS - brought back into the Group in March 2004.

The write-off of the historic investment in the Pindar Systems business,(that had been de-merged in 2001), led to a pre tax loss of £866k. Despite both this and the business costs associated with the relocation of the Scarborough bindery, operating profits were maintained at just over £6m. Meanwhile, mid-term figures for the new financial year indicate that turnover is up on last year’s half year position by 8%, operating profit up by 30% and pre-tax profit by 43%.

Constantly developing

Pindar has also experienced substantial international expansion over the past 12 months.

Andrew Pindar commented: “We have worked hard at re-shaping the whole of the Pindar Group to ensure that we are meeting the needs of our customers and responding to developments in the market place.  This has meant that we continue to generate strong and improving results.  We have also continued to work on the international side of the business and we anticipate that this year almost a third of sales revenue will come from overseas.  Pindar is constantly developing and we believe that the results we are now seeing are a reflection of the high quality service we are providing our customers.”