In his address to the company's Annual General Meeting, PaperlinX Chairman David Meiklejohn described 2008 - 2009 as "difficult and disappointing". "In last year's Annual Report I indicated that we did not foresee any short-term changes in market conditions and unfortunately this proved correct. In fact we saw an unprecedented drop in demand for paper as a result of the global recession as confidence collapsed and paper consumption slumped. Conditions deteriorated sharply in the last quarter of calendar year 2008 and remained at depressed levels throughout the balance of the financial year," Mr Meiklejohn said. Mr Meiklejohn's sentiments were echoed by Managing Director Tom Park, who said "The Group performance in 2009 was much worse than we had expected, as results in all regions were impacted by the unprecedented falls in demand.
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