"From time to time we like to review our options," said AM&P chief executive Eamon Allen, whose firm owns over 75% of the group.

The review will consider a number of options for the group, which spans quickprint, print management, direct mail and security print, including a sale, a financial restructure or continuing as it is.

Adare confirmed it was undertaking a strategic review of its operations but denied a report in The Times that it was being prepared for sale and was expected to fetch 150m.

Allen refused to rule out the option of a sale and said: "Who knows?"
Earlier this year AMP&P disposed of one of its other printing assets

Derbyshire commercial printer Heanor Gate to an MBO. In 2003 it sold Welsh magazine printer Pensord Press to an MBO team.

Adare chief executive Nelson Loane paid 103.6m for the group in 2000, winning a battle to take the group private with finance director Peter Lynch. Loane was unavailable for comment.

Adare made a pre-tax profit of 4.4m in 2004, but this figure was flattered by a  3.3m exceptional profit on a Dublin property. Operating profits dropped more than 4.5m year-on-year against 2003 to 14.5m, while sales were virtually static at 180.3m.

Companies in the Adare stable include quick-print chains Kall Kwik and Prontaprint, print management firm Carwin, DM firm Halcyon, transactional printer Lexicon, data firm Intellidata and security printer Kalamazoo. The group employs 1,400 staff.

Story by Andy Scott