5th Mar 2015 10:18
LONDON (Alliance News) - Communisis PLC Thursday said it swung to a loss in 2014 due an impairment charge booked on a past acquisition, but said revenue increased on the back of a good performance in its overseas business.
The customer communication services company said it was pushed to a pretax loss for the year of GBP13.3 million, compared to a GBP6.3 million profit a year earlier, by a GBP21 million goodwill impairment related to acquisitions made around the turn of the decade.
Stripping out exceptional items, the company's pretax profit was GBP12.4 million, up from GBP10.8 million a year earlier.
Revenue increased to GBP343 million from GBP270.1 million, boosted by a 36% increase in overseas revenue. The group also reported a strong performance in its Produce segment, which provides personalise printing and customer communications, where revenue was driven higher by two contracts the company won with Lloyds Banking Group PLC, and its pass-through revenue was boosted.
The company has proposed a final dividend of 1.33 pence per share, bringing its total dividend to 2 pence per share, up 11% year-on-year.
Communisis shares were down 5.2% on Thursday to 57.85 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
LloydsCommunisis PLC