Close
Company Search
Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

Interim Management Statement

11th Nov 2009 07:00

RNS Number : 3052C
Communisis PLC
11 November 2009
 



11 November 2009

Communisis plc

("Communisis" or the "Company")

Q3 Interim Management Statement and Renewal of Bank Facilities

The Board of Communisis ("The Board"), the leading provider of print and marketing communication services, today publishes its Interim Management Statement for the third quarter ended 30 September 2009.

Overall, trading during the third quarter was broadly in line with management expectations. However, the market pressures we referred to in our interim results statement have continued in the second half and visibility of future orders remains difficult.

Progress in cross selling services to clients from different parts of the business has been encouraging during the third quarter. This provides further validation of our strategic move to the provision of higher value marketing services which enable our customers to be more profitable with their own customer communications. 

The divisional performance during the third quarter can be summarised as follows:

Demand for our Technology and Services offering continues to be strong and increased activity levels are being sustained in this business.
The Transactional Print division continues to perform in line with our expectations. As we said in August, we are not yet seeing the return of rebranding and other project work and the overall market for promotional cheque mailshots continues to decline.
The Direct Mail business remains our biggest challenge. The recovery in volume that we saw towards the end of the first half continued in Q3, but with no significant improvement yet in the volume of higher value personalised mailings and continued margin pressure. The uncertainties at Royal Mail have not helped our clients' campaign planning.
Print Sourcing is in line with expectations and the implementation of accounts won in H1 2009 and Q3 2009 is proceeding well. The division continues to provide a good source of new business for other divisions within the Group.

We have completed the renewal of our third committed bank loan facility, with KBC Bank N.V. The renewed  facility, which is on normal commercial terms, has been increased to £10m and will fall due for repayment in February 2012. Forecast debt at the end of the second half is expected to be broadly comparable to the end of the first half at £25m.  Our overall committed debt facilities now total £50m.

For further information please contact: 

Communisis plc

+44 (0)20 7426 4690

Andy Blundell, Chief Executive

Peter King, Finance Director

Financial Dynamics

+44 (0)20 7831 3113

Edward Bridges

James Melville-Ross

Matt Dixon 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
IMSCKKKKOBDDFDD

Related Shares:

Communisis PLC
FTSE 100 Latest
Value8,275.66
Change0.00