Printing.com mulls name change as profits drop

PRINTING.COM has proposed a name change to Grafenia as profits fell 29%.

It said the Printing.com name has caused confusion when marketing new software-based services.

In the year to the end of March pre-tax profits fell by 29% to £891,000 on sales of £20.6m, down 5%.

The company said earnings before interest, tax, depreciation and amortisation (EBITDA) was £2.6m, down 23%.

During the year £12.5m of all sales came from the UK and Ireland, down from £13.78m.

The business, which has a network of franchised print shops, said printing volumes contracted, and earnings were also affected by the costs involved with launching a new template service, which allows existing franchisees or independent third-party printers and design agencies to use Printing.com’s software with their own branding.

The board is recommending a final dividend of 150p, taking the total for the year to 255p.