The firm sold its remaining 4.7m common shares in Printcafe, which has been bought by Electronics For Imaging, and was paid for its outstanding 7m loan.

The disposal will boost its earnings per share for the quarter ending 31 December.

Meanwhile, Creo UK has laid off seven staff, or 9% of its workforce, as part of a cost-cutting exercise.

The roles were in administrative and non-customer-facing positions, according to sales director Mark Nixon.

UK dealer manager Hayley Masom was one of the staff to depart. Her role had declined as Creo's dealer network shrunk, most recently with the closure of MCSi.

Although the firm has cut these roles, Nixon is still looking for further sales staff.