Pacific Print revenue up, profit down

Pacific Print's December half-year net profit has halved to $2.23 million from $4.6 million a year earlier.

This was despite operating revenue rising to $82.3 million from $66.3 million.

The pre-tax operating surplus fell to $3.76 million from $7.2 million.

Pacific Print is not listed on NZX but its debt is.

In November, Australian investor Gresham Private Equity paid $220 million to take a half share of the expanding East Tamaki-based commercial print company.