"Openshaw was a distraction, we spent a lot of time looking at that business with the receiver during the first three months," said Hammond.

He was upbeat about the firm's acquisitions of Kent-based dealer United Graphics and IT and web services firm SBI during the period. The firm is on the look-out for other bolt-on acquisitions.

Unaudited interim figures to 30 June showed pre-tax profits rose 7.8% to 550,000 on sales down 3.6% to 22.8m. Margins rose from 1.9% to 2.4%.

Consumables sales rose 1.6% to 17.71m, with digital consumables sales rising by 10%. The overall growth was due in part to the acquisition of United and some business picked up from Openshaw customers. Hammond expected further gains to be shown in the second half figures. He added that there was price erosion in the plate market but that the firm was resisting it, and walking away from deals that didn't make sense.

Electronics sales fell 17% to 4.95m, but that was compared to what Hammonds called "an exceptional" year in 2004.

The firm expected to maintain modest growth in the second half.
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