Communisis on track

Marketing services provider Communisis says that trading is in line with expectations and restructuring plans are on track. Communisis is winning long-term business from the likes of the Post Office but there does not appear to be any improvement in marketing spending by businesses. The company will benefit from cost savings but it will still be difficult to grow revenues in the current economic climate. Panmure Gordon is sticking with its 2010 earnings per share forecast of 3.48p, which means that the shares are trading on less than ten times 2010 estimated earnings. The 2010 figures will be published on 3 March.