Chief executive Tony Rafferty said he was confident the group had turned the corner, and that it had made a profit for the eight-week period ending 28 May.
Rafferty said that it was a significant turnaround on last year when, in the same period, it reported a pre-tax loss of 140,000.
He said results for the year ending 31 March 2002 were not that far from expectations.
"The franchises are now starting to work for us, and we have a very strong pipeline of enquiries," said Rafferty.
The company also hopes to complete a deal for the purchase of a new Komori Lithrone 40 press in the next few weeks.
The number of franchise deals completed since January 2002 is now at 24, a figure Rafferty expects to increase to over 60 by the end of the year.
The two new franchise agreements have been signed with Oxfordshire-based Albry Print and Wimbledon Print Centre.
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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."
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