6th Jul 2007 07:00
Communisis PLC06 July 2007 6 July 2007 Communisis plc ("Communisis" or "the Group") Trading Update Communisis plc, one of the leading UK print and print management businesses,today provides an update on trading for the six month period ended 30 June 2007. Management indicated at the start of the year that the first half of 2007 wouldbe characterised by significant change, with efforts being directed at improvingkey business processes and repositioning the Group towards the new propositionof making customer communication a more profitable process. Communisis today announces that solid progress has been made in the first halfand, as a result, the business has performed in line with management targets. In the key priority area of improving the Group's working capital management,good progress has been made and, as a result, the Group will be reporting areduction in net debt for the first half which is better than marketexpectations. Operational performance in Transactional Print Services and the Bath businessforms factory has been strong. The recovery plan at the Group's Leeds directmail plant is moving ahead well with cost reduction, quality and efficiencyimprovements all being achieved. In the Print Management business, followingthe previously announced renegotiation of the contract with Barclays, there hasbeen encouraging customer interest in, and rate of take up of, the company'srefocused print management business model, concentrating on value-addedservices. Steve Vaughan, Communisis Chief Executive, commented: "We expect to report a solid first half performance in all segments of thebusiness which bears testament to the hard work across the Group since the startof the current financial year. The key challenges for the second half remain; namely managing the businessthrough the seasonally quieter summer months and driving growth in keyvalue-added services. However, given the progress made in the first half, wehave reason to be optimistic that we will achieve the expected outturn for thefull year." The company will announce Interim Results for the period ended 30 June 2007 onWednesday 12 September 2007. Enquiries: Communisis plc +44 (0)20 7426 4690Steve Vaughan, Chief ExecutivePeter King, Finance Director Financial Dynamics +44 (0)20 7831 3113Edward Bridges / Matt Dixon This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Communisis PLC