Revenues were up 5% on the same period last year, driven by a 25% growth in its Print Management and Personalised Products businesses. Margins in Personalised Products will reduce to around 10%, hit by price pressure, and will impact trading profit.
Low prices also affected Document Services, which is expected to break even. Reorganisation of the division was expected to result in a 6m one-off charge.
The sale of its Colour Cards business, part of the strategic review of the Colour Solutions business, was at an advanced stage.
A highlight of the period was the Print Management business, which won more than 15m of business. This included more work for Barclays and new contracts with Camelot and Siemens.
Although it expected the full year to be below expectations the firm was confident that new business and its reorganisation would result in an improved performance in 2004.
Have your say in the Printweek Poll
Related stories
Latest comments
"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!"
Up next...
Replacement 'will be operational later this year'
Walstead makes decision on Bicester 64pp
'Ridiculous decision'
Unite “prepared to fight” on proposed DS Smith site closure
Also helps mitigate volatile energy prices
