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29 Oct 2008 07:00
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29 OctoberΒ 2008
Communisis plc
("Communisis" or the "Company")
Interim Management Statement
The Board ofΒ CommunisisΒ (the "Board"), the leading provider of print and marketing communication services, today publishes anΒ Interim Management Statement for theΒ thirdΒ quarter of 2008.
The BoardΒ is pleased to report thatΒ the CompanyΒ continues to trade comfortably in line withΒ the market'sΒ profit expectations forΒ the full year. We have noted some change in ourΒ revenue mix this quarter. We are experiencing notableΒ growthΒ in our Transactional Print and Cheques businesses,Β driven byΒ increased account activity at our banking clients and the implementationΒ ofΒ the Consumer Credit ActΒ 2006.Β This has more than offsetΒ lower demand in Direct Mail, where we have seen some reduction in certain customers' use of high volume campaigns.
We have continued to win new business in the quarter, particularly in our Technology and Services division, securingΒ sales of our Connect web-enabled portal to Xerox, Allied Irish Bank and British Midland. This new work at good margins underpins our move towards a higher value solutions business.Β We have also successfully concluded aΒ significantΒ serviceΒ agreement with Williams LeaΒ thatΒ positions us as their preferred vendor for Direct Mail to HBOS and,Β in tandem,Β willΒ see us take onΒ additionalΒ new workΒ where we haveΒ specificΒ expertise, such as securityΒ printing.
Good balance sheet managementΒ remains aΒ key focus for the Company. The BoardΒ expectsΒ to report aΒ net debtΒ positionΒ at the closeΒ of the financial year thatΒ isΒ in line with market expectations.
For further information please contact:Β
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Communisis plc |
+44 (0)113 222 6515 |
|
Steve Vaughan, Chief Executive |
|
|
Financial Dynamics |
+44 (0)20Β 7831Β 3113 |
|
Edward Bridges |
|
|
James Melville-Ross |
|
|
Matt DixonΒ |
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