Sales in the firms Graphic Systems division fell by 10.7% for the first nine months of the year to 840m (e1.2bn). Excluding exchange rate variations the decrease was 3.4%, while the divisions operating profit dropped 7.5% to 59m.

Agfa UK Graphic Systems director Lawrence Roberts said: On a global basis we havent done the business that we would have wanted to in Germany. In the UK were the same as last year, which we are happy with given the climate.

He said the four-up market was buoyant but the eight-up market was about a third down on last year.

Agfa has solved capacity problems for printing plates since its manufacturing plant in Wuxi, China began operating on 30 October.

The groups total sales for the nine months fell 10% to 2.2bn, while operating profit fell 14% to 180.6m.

Agfa credited its Horizon Plan for reducing sales and administrative costs by 7%.

Roberts said: Prices are very competitive, volumes are largely static. So you have to look to your costs to remain competitive.

Story by John Davies