"On an on-going basis we continue to review the group, but the market is still appalling and remains tough for everybody," said managing director Alan Jordan.

He said that "the longer there was talk of war and a continued dip in the stock market, the longer it would be before the economy and print saw any upturn".

Jordan was satisfied with the performance of Oakhill's managed services division, which comprises Oakhill Cards & Services and Nuvor managed communication services, including print management and direct mail.

The group's interim results for the six months to 30 June 2002 saw sales of speciality print fall 6% on the same period last year to 19.1m.

And the division's operating profit slumped 43% to 1.1m. Speciality print includes Technique Labels in Suffolk, Label Art in Dublin and Bell & Bain.

But there was a different story in managed services, where sales rose 16% to 12.3m.
The group made an overall profit after tax of 40,000.

Story by Andy Scott