The latest results for the half-year to 31 August 2003 show pre-tax losses of 365,000, a fall of 65% on the same period last year.

The company reported pre-tax losses of just over 2.5m for the year to the end of February 2003.

Managing director Mark OConnor said this year had been about one of turnaround for the business, and getting the companys strategy firmly in place.

Although turnover for the half-year was down by 12% to just over 4m, OConnor said it was still on track to match last years 8.5m turnover for the full year.

Some 60% of the companys revenue is now generated through its DocuMarketing online marketing and print management system, with more new clients set to sign up to the initiative in the near future.

Documedia also sold its freehold interest in its Cheltenham property for 765,000 during the period.

The company still retains a lease on the premises to continue its operations there.

Some 165,000 from the sale of the freehold is deferred for 21 months.

The second six-month period had started encouragingly, it claimed, and the improvements in the companys performance are expected to continue.