7th Apr 2016 07:49
LONDON (Alliance News) - Printed materials and services company Grafenia PLC on Thursday said its results for the year to the end of March will meet its revised expectations.
Grafenia issued a profit warning in February, saying its results would miss expectations due to aggressive pricing by competitors in the European trade print market in the second half. This forced Grafenia to increase promotional activity, incentives and selective discounting to keep market share at the expense of margins.
On Thursday, the company said trading conditions remain competitive, but said it has made progress on new strategic initiatives and subscription models since its last trading update.
Grafenia said it outpaced its targeted annualised revenue run rate for its Marqetspace trade service for print resellers and said it has attracted more partners for Brambl, its web design tool for graphic designers.
Grafenia shares were untraded on Thursday, having last traded at 9.51 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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