Communisis reports strong first half
Tuesday, July 10, 2007
Communisis plc, the UK print and print management businesses, in an update on trading for the six month period ended 30 June 2007 said that solid progress has been made in the first half and, as a result, the business has performed in line with management targets.
In the key priority area of improving the Group’s working capital management, good progress has been made and, as a result, the Group will be reporting a reduction in net debt for the first half.
Operational performance in Transactional Print Services and the Bath business forms factory has been strong. The recovery plan at the Group’s Leeds direct mail plant is moving ahead well with cost reduction, quality and efficiency improvements all being achieved. In the Print Management business, following the previously announced renegotiation of the contract with Barclays, there has been encouraging customer interest in, and rate of take up of, the company’s refocused print management business model, concentrating on value-added services.
Steve Vaughan, Communisis Chief Executive, commented:
“We expect to report a solid first half performance in all segments of the business which bears testament to the hard work across the Group since the start of the current financial year.
The key challenges for the second half remain; namely managing the business through the seasonally quieter summer months and driving growth in key value-added services. However, given the progress made in the first half, we have reason to be optimistic that we will achieve the expected outturn for the full year.”
The company will announce Interim Results for the period ended 30 June 2007 on Wednesday 12 September 2007.
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