Metro Vancouver’s largest printers still recovering from 2015 downturn

The bottom lines of smaller printers on BIV’s list were hardest hit

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Business for Metro Vancouver’s largest commercial printers has grown over the past five years, but it has yet to recover from 2015’s steep industry decline.

The average revenue for the region’s largest commercial printers fell 26% to $9 million in 2015 from $12.2 million in 2014.

Since this decline, the largest commercial printers have increased their revenue by 28.8% to reach $11.6 million in 2018, but that still fell short of their 2014 levels.

Over the past year, the average revenue for B.C.’s largest printers grew 8.4% from $10.7 million in 2017, while median revenue dropped 16.7% to $5 million in 2018 from $6 million in 2017.

As a result of the 2015 industry downturn, the median revenue for Metro Vancouver’s top commercial printers fell significantly to $3.1 million, or by 60.3%, from $7.7 million in 2014. This suggests that smaller companies lower on Business in Vancouver’s list of the biggest commercial printers in Metro Vancouver (page 20) suffered steeper revenue declines than larger companies higher on the list.

Over the five-year period, the top five commercial printers, with five years of data available, had an average revenue increase of 40.9%. Over the past year, their average revenue growth was 11.3%.

New Westminster’s Royal Printers Ltd. recorded the largest one-year revenue growth on the list: 33% to $8 million in 2018 from $6 million in 2017. Of the top five, Westkey Graphics Ltd. had the largest one-year revenue increase: 26.2% to $41 million in 2018 from $32.5 million in 2017. •