Sales in the six months to 30 September grew 16% to 69.1m, while operating profits prior to exceptional charges jumped 37% to 4.1m, giving a margin of just under 6%. Pre-tax profit prior to exceptionals jumped 63% to 3.1m.

"It's a big improvement on last year, and from our point-of-view it's been done in a market that hasn't improved very much, so we've done reasonably well," said group managing director Paul Utting.

Graphic Facilities, acquired in March and now renamed Wyndeham Graphics, has hit its earn out targets and is being integrated with Argent under its managing director Tony Austin, who heads the enlarged pre-press wing. "We're delighted with the Graphics management team they're a high calibre bunch of people," Utting added. There was a goodwill write-off of 595,000 relating to the purchase.

Wyndeham has won a number of significant magazine contracts of late, including new NatMags weekly Reveal and Haymarket B2B title GP, which moved from Polestar Colchester following a change of publishing schedule.

Magazines have grown to make up 59% of turnover (2003: 56%), and Wyndeham is also pitching hard for the IPC and Emap titles currently up for review. Last month it ordered a new 64pp Lithoman for Heron.

An upbeat Utting said the group aimed to shape its own future: "We're determined to be masters of our own destiny as far as we can as a print group you can either wait till it happens or go out and grab it yourself," he stated.

Shares rose 5.5p to 130p on the news this morning.

Story by Jo Francis