The Irish print and packaging firm, which owns companies including Bell & Bain and Hythe Offset in the UK, reported a 2% fall in overall sales to 16m, mainly due to tough exchange rates.
Managing director Alan Jordan said that while all sectors remained competitive, the group had benefited from manufacturing improvements at Technique Labels.
Speciality print sales fell 7% to 7.1m but operating profits rose 89% to 723,000.
Oakhills banking facilities mature within the next 12 months, and Jordan said refinancing talks should be completed in two months. It will revert to UK bankers instead of Irish, as most of its businesses are in the UK.
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"Gosh! That’s a huge debt - especially HMRC! It’s a shock that HMRC allowed such an amount to be accumulated."
"Whatever happened to the good old fashioned cash job! At least the banks didn't take 2-3% of each sale. After 30 odd transactions that £100 quid you had has gone."
"It's amazing what can be found on the "web" nowadays!"
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