PMP Limited
(ASX:PMP) has warned tough trading conditions are likely to cap its earnings in the current financial year.
The printing and publishing company expects to generate earnings before interest and tax before significant items of between $31 million and $34 million in fiscal 2013, compared to $32.7 million achieved last year.
PMP says trading conditions in Australia have continued to be tough for its major clients as publishers and retailers continue to experience difficult market conditions.
In response the company has vowed to tightly control all operational and discretionary expenditure, including capital expenditure.
New CEO Peter George will update the market on PMP’s plans at the company’s annual general meeting on November 22, 2012.
PMP extended its net loss to $24.5 million in the 2012 financial year.
