News

Litho Supplies has issued its interim report for the six months ending 30 June showing pre-tax profits up 5.65% year-on-year to £580,000.

This figure does not include a £91,000 reorganisation cost.

Revenues grew a more modest 2.84% to £22.4m, helped by a push into the corporate digital market from its LS Digital division, and strong sales of digital and inkjet consumables and devices, offsetting the decline in analogue demand.

The company said an increasing number of sales are being driven through its website.

The group's cash position has also improved from £4.23m last year to £4.87m, with reduced inventory levels and sourcing more economic products for analogue kit through its involvement with the European Litho Supplies Alliance.

Litho Supplies chairman BC Clark said that while the recent stock market turmoil may have knocked the confidence of some of its customers, he expected "trading to remain at a similar level as the first half of the year".

He said the company would continue to forge partnerships with new suppliers and that "we are continually in discussions with acquisition targets, which, at the right price, will give some impetus to growth in sales and profits".

The board has recommended an interim dividend of 2p per share.