TNG.L Share News (TNG)

Printing and marketing group Tangent Communications shares were knocked lower on Tuesday after the group revealed a drop in profits in its Snowball digital marketing agency in the first quarter. The decline was due to the company continuing to redefine and downsize this business. "We are re-channelling our people and focusing them into our fast growing online businesses," it said. Sales in the printed.com business continued to grow, with the performance ahead of its expectations. It is planning to launch into the photographic printing market this summer. "Overall we anticipate further progress in the current year towards generating more revenues online," it said. The goodprint business's same-day London service has been gaining momentum, while the newly launched luxury business card range has been well received. "These enhancements are starting to generate improved conversion rates on the goodprint website and better engagement with our customers," it added. "T/OD performed well in the first quarter and is working closely with goodprint towards the launch of London specific services and niche products."Shares had fallen 7.85% to 10.02p by 10:10.NR