Colorpak posts $7 billion profit for 2011/12
Colorpak has posted a net profit after tax (NPAT) of $7.6 billion for 2011/12, up 8.5% from the previous year. The company attributes the positive result to its sharp focus on margins, commitment to generating strong free cashflow and the successful integration of the Carter Holt Harvey (CHH) assets it acquired in 2011.
“We are building a track record of executing on our strategy,” said Colorpak Managing Director Alex Commins. “We told the market that the CHH acquisition would be earnings accretive in 2011/12 and we have delivered on this commitment to our shareholders.
“The 2011-12 year was transformational for our company. We have executed on our vision to build a profitable and sustainable future for Colorpak, despite very tough trading conditions,” Commins said.
The CHH asset acquisition was Colorpak’s sixth in the past 12 years.
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