Their 2 biggest clients buy their own paper, so the exposure isn't too bad in that sense. The impact will be in the clients who choose to print smaller volumes to offset these cost increases. Both OVT and IGL have some very heavy capital equipment that was purchased to support growing volumes of catalogues, and now we see those numbers dwindling. I don't hold much hope they can turn this business around, I suspect it will sputter along as it always has since PMP was spun out of News Limited in the 90's.
Ovato is likely to go on to a bright future, well capitalised, page-6
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