In a trading statement ahead of its interim results next month, the £19.4m group said trading conditions were still competitive in its established markets.

Its results for the half-year are expected to be "broadly in-line with management's expectations".

Among its range of new offerings, Grafenia has also added a third international master licence for its W3P web-to-print system.

It also said that initial trading at Nettl “bodes well”, and the offering had been well-received at the National Franchise Show held earlier this month.

The Grafenia-owned Printing.com outlets in Manchester, Birmingham, London and Dublin have now been rebranded under the new service.

Grafenia is in the process of reinventing its offering due to decline at its Printing.com franchise operation. In its last financial year sales at Printing.com fell almost a quarter to £8.2m.

Chief executive Tony Rafferty has described Nettl as an “evolution” of the original model. When the first studio opened last month he said he was hopeful of converting 50 existing Printing.com franchises to Nettl within six months.

Grafenia shares were down 1.15p, or 5.17%, to 21.1p in trading this morning (52-week high: 22.5p, low: 12.38p).

It is expected to announce interim results for the six months to 30 September on 10 November.