LONDON (Alliance News) - Tangent Communications PLC Tuesday said it expects to make further progress in the current year towards generating more of its revenues online.
The online business is a big focus for the marketing platforms and services provider, which has recently invested in a state-of-the-art print facility to accelerate online sales.
In a statement to shareholders at the company's annual general meeting Tuesday, the company said its online print business continues to grow, with 37% of group sales taken online in the first quarter, compared with 34% last year.
However, Tangent Communications said that it saw lower profits from its digital marketing agency Tangent Snowball in the first quarter, as its continued to redefine and downsize its agency business.
The company said its online retail website, printed.com, is currently trading ahead of its expectations, boosted by an increase in sales and customers numbers. It said that printed.com's summer launch into the photographic printing market will add to its offer.
It said its goodprint's same-day London service gained momentum in the first quarter, supported by improved conversion rates on the goodprint website. It said the newly launched luxury business card range has also been well received.
"Overall we anticipate further progress in the current year towards generating more revenues online," the company said.
Tangent Communications shares were down 7.9% at 10.01 pence in early trading Tuesday.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
Copyright 2014 Alliance News Limited. All Rights Reserved.