Newsagency may find the results for PMP, the owners of Gordon and Gotch, interesting. Gotch revenue for the year was down 13.3% at $358.5M with an EBIT of $1M. They are reporting a 9.8% decline in magazine volume for the year. The outlook for the year is a further decline in magazine volumes. The company is focused on more cost reduction.
This makes sense as gg is cutting supply off after eom +20 days and not even waiting until the end of month as it has done for yrs, poor buggers must be broke so they will increase volume by cutting supply. Good move.
Any way off to do my GG returns, don’t think I will leave much on the shelf.
How about increasing efficiency to reduce costs? I know, simple idea, but obviously not something well considered with regard to allocations. Just sayin.