29th Oct 2008 07:00
29 October 2008
Communisis plc
("Communisis" or the "Company")
Interim Management Statement
The Board of Communisis (the "Board"), the leading provider of print and marketing communication services, today publishes an Interim Management Statement for the third quarter of 2008.
The Board is pleased to report that the Company continues to trade comfortably in line with the market's profit expectations for the full year. We have noted some change in our revenue mix this quarter. We are experiencing notable growth in our Transactional Print and Cheques businesses, driven by increased account activity at our banking clients and the implementation of the Consumer Credit Act 2006. This has more than offset lower demand in Direct Mail, where we have seen some reduction in certain customers' use of high volume campaigns.
We have continued to win new business in the quarter, particularly in our Technology and Services division, securing sales of our Connect web-enabled portal to Xerox, Allied Irish Bank and British Midland. This new work at good margins underpins our move towards a higher value solutions business. We have also successfully concluded a significant service agreement with Williams Lea that positions us as their preferred vendor for Direct Mail to HBOS and, in tandem, will see us take on additional new work where we have specific expertise, such as security printing.
Good balance sheet management remains a key focus for the Company. The Board expects to report a net debt position at the close of the financial year that is in line with market expectations.
For further information please contact:
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Communisis plc |
+44 (0)113 222 6515 |
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Steve Vaughan, Chief Executive |
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Financial Dynamics |
+44 (0)20 7831 3113 |
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Edward Bridges |
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James Melville-Ross |
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Matt Dixon |
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