4th Jun 2008 14:00
4 June 2008
Communisis plc
("Communisis" or the "Company")
Re: Sainsbury's
Communisis plc notes that, following the completion of a competitive tender process, Sainsbury's has announced that it intends to transfer its 'preferred print supplier' status, currently held by Communisis, to a competitor with effect from 1 September 2008.
The great majority of the revenues from the relationship with Sainsbury's is reported in the Print Sourcing segment, with consequently lower margins. As such, the Board of Communisis does not expect the move of this contract to have an impact on Communisis' profits for the current financial year. The Board also believes that the positive outlook for business wins elsewhere in the Company will enable Communisis to compensate for the contribution which this business would have made in 2009.
For further information please contact:
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Communisis plc |
0113 222 6515 |
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Steve Vaughan, Chief Executive |
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Financial Dynamics |
020 7831 3113 |
|
Edward Bridges |
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|
James Melville-Ross |
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|
Matt Dixon |
- Ends -
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