By Wayne Robinson | 28 August 2020
Heatset print giant Ovato suffered a $130m hit on its sales revenue in the 2019-2020 financial year, as catalogue and publication paginations plummeted.The company’ssales fell by 19.4 per cent to $539m, down from $669m in the prior year, as Covid tore through its clients.
Revenue July to February was already 9 per cent down, then the March to June Covid period saw sales tumble by 41 per cent. While printing was smashed, the company says books, packaging, retail distribution and marketing services “held up well”.
Nonetheless OvatoCEO Kevin Slaven issued a stark warning that the company ne…
Read the full article at: https://www.print21.com.au/news/covid-slashes-130m-from-ovato-sales-union-fight-looms