According to its most recent ASIC filing, Springvale-based AIW turned over $103.3 million for the 12 months to 30 June 2012, or $875,400 for each of its 118 employees.

Turnover was down 4.6% year-on-year; in the previous financial year, AIW generated sales of $108.3 million, or $917,800 per employee.

AIW had a profit margin of 5.4%, which has been squeezed over recent years, down from 8.4% on its 2010-11 sales and 6.7% on $123.4 million of sales in 2009-10.

Chief executive Paul Ward told ProPrint: "We were pleased with the result despite challenging times. It is important for any business to be obsessed with their customer base, understand their cost base and market demand, and adjust and price accordingly."

Ward said the 16.3% reduction in revenue between FY10 and FY12 was due to a fall in volumes and price caused by industry overcapacity.

[Related: Ward takes top job at AIW]

AIW's net profit increased 9.1% to $9.1 million in 2010-11 but then slumped by 37.9% to $5.6 million in 2011-12. That was due to "market price erosion" and "the inability to recover cost increases in the market", he said.

Ward warned that the "tough market" was expected to continue into the 2013 calendar year.

"You have both structural and cyclical changes impacting retail demand and too much supply capacity.

"Thus we see a continuing trend until the market overcapacity position is resolved via one, or both, demand and supply elements."

The 2011-12 report also saw net assets jump 10% to $39.7 million and borrowing costs fall 25.8% to $1.2 million. Staff costs also rose 8% to $17.5 million, despite the headcount remaining steady at 118.

AIW is a web-offset printer that specialises in catalogues, magazines, newspaper inserts, direct mail and advertising literature. It is based in Melbourne and has sales offices in Sydney and Brisbane.

[Related: More finance news]

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