Jarvis Porter Group has reported its predicted losses for the year ending February 2001, but is confident its restructuring last year will turn fortunes around.


Turnover dropped 10% to 55.397m and it recorded a pre-tax loss of 4.3m citing currency fluctuations and difficult market conditions.


Chairman Michael Maher said: It has been a difficult and disappointing year for the Group and this is reflected in our figures. There is no sign of the difficult market conditions abating in the near future. But the new team has taken actions that will better position the company to deliver improved results.


In October Jarvis Porter parted company with chief executive Hugh Donaldson after it posted an interim pre-tax loss of 1.6m (PrintWeek, 20 October 2000). Alan Mellor took on the creative packaging division, while head of labels Gary Kenning was handed the additional responsibility of the healthcare division.


Group communications director Neil Farmer said:
Healthcare has made a good recovery and has returned to profitability post year-end. Alan Mellor and Gary Kenning are very much hands-on executives: theyre good at resolving issues and moving on as a team.


Farmer added that the creative packaging division still needed some work, but that a 1m investment in screen-printing technology would turn it around.


Story by John Davies