PMP Limited
(ASX:PMP) says its three year turnaround strategy is starting to pay dividends.
The company has undergone an intensive restructuring process to become the most efficient integrated printer and distributor in Australasia. The company’s core activity remains the printing and distribution of retail and sales catalogues.
PMP has reaffirmed earnings guidance of $25-$26 million and says it has managed to reduce debt from $51.7 million down to $19 million allowing for strong free cash flow.
The board intends to commence dividends and/or a share buyback of up to 50 per cent of net profit or around $5 million after the release of its full year results in August.
PMP reported net profit of $4.31 million for the first half of the 2015 financial year.
