A Pontllanfraith-based printing company has reported a slight increase in turnover, despite suffering technical problems during the year.
According to accounts filed at Companies House, Pensord Press
grew its turnover to £12.1 million in the year ending December 31, last year – up from £11.9m in 2014.
Pre-tax profit remained steady at about £440,000.
The figures were in spite of a “substantial machine failure”.
The company, in its accompanying directors’ report, said: “The negative aspects of 2015 came as a result of business interruption caused by substantial machine failure at peak periods towards the end of the summer and into early autumn.
Despite this being a very costly period for the business, we
have emerged stronger and more resilient, and with even greater client loyalty as we continued to deliver outstanding service, quality and support during the disruption, and receive high praise from our clients in the process.”
Pensord said it retained each of its 50 highest spending customers, with many increasing their spend.
Directors Darren Coxon and Karl Gator also reported a “shift in
mind-set” with publishers recognising the value in print opposed
to online publishing.
The company, based on Tram Road, prints about 400 regular magazine titles from its 50,000 sq ft site and employs around 150 staff.
The company also won back two former customers, a new large account at the start of the year and two reasonably sized accounts towards the end.
Further growth is also expected in 2016 due to a new digital venture and investment in new machinery.
Earlier this year, Pensord secured a £3.2 million funding package
from HSBC.
It used part of the funding to buy a state-of-the-art colour printing press.
The new press will increase Pensord’s capacity and efficiency and
will enable the business to access new markets.
The directors added: “The publishing sector we serve is proving
very robust and one might dare to say now that many publishers are ready and prepared to innovate, expand and grow with print once again at the forefront.
“Our investment in new machinery and planned investment
in further people development will act as an indication as to our unique capability, our willingness to grow with those publishers and our ongoing commitment to serve them well.
“Whilst the publishing community flourishes the wider printing
community has continued to suffer with further closures in 2015 as a result of continued downward pressure on pricing, and many are predicting that 2016 could be a watershed year for many print businesses.
“Pensord is in a strong position, operating in a stable and robust part of the printing sector and is well positioned to take advantage of opportunities that present themselves.”