Pre-tax profits after exceptional items fell to 198m (E325m), with third-party sales down 1% to 2.75bn in its full year figures to 31 December 2001.
The company anticipates cost-cutting measures taken last year, which included divesting itself of a number of operations, to result in improved earnings for 2002.
The group has also confirmed that Gary McGann will take over as chief executive officer designate with effect from 1 November 2002, replacing Dr Michael Smurfit who is to step down (PrintWeek, 8 February).
At the same time Tony Smurfit will take up his role of president and chief operating officer.
Michael Smurfit will also give the annual Livery Lecture for the Stationers Company this year, to be held on 11 March at 6pm at Stationers Hall in London.
Tickets are 20 inc VAT.
For details call: the Trade and Industry Forum, 020 7248 2934.
Have your say in the Printweek Poll
Related stories
Latest comments
"I have worked in quite a few print sectors, including Walstead in the past. It is all tough, but most will not be surprised that the packaging sector is still growing. However, the service in the..."
""longer run litho work had “now returned to the Far East”?
Is this happening a lot?"
"Thanks Jo, look forward to reading it in due course. Administrators generally argue that they need to act with lightning speed in order to protect the business/jobs, thereby overlooking the fact that..."
Up next...
Revenue up to £3.2m, profits quadupled
Footprint picks up pace of acquisition strategy with Swindon’s C3
Controversy emerges over relationship with potential suitor
National World shares soar on takeover approach
24/7 access for customers
Bakergoodchild launches new SaaS platform
Strategic move for global growth