Printing and marketing group PMP
(ASX:PMP) has lost another large contract after Coles formally cut ties with the company and instead awarded rival Salmat with its $15 million national catalogue distribution contract.
Kmart and Myer are other retailers to have switched from PMP to Salmat, cutting PMP’s revenue dramatically.
The loss of contracts this year is because it was found that some PMP clients had been overcharged and because of late deliveries.
It has been estimated that PMP's share of the catalogue distribution market fell to 35 per cent from 50 per cent in 2008/09.
PMP reported a 2009 net loss of $27.17 million for the year to June 30.
