Printing.com optimistic despite sales slip

HIGH Street printer Printing.com is optimistic about its long-term prospects despite declining sales.

In a trading statement the Manchester-based group said it expected its results for the year to March 31 to be in line with expectations.

It described trading as “stable” across its operations in the UK and Ireland, admitting there had been a dip in sales but the business remains profitable.

In January it said the tail-end of 2008 had seen a 3% like-for-like sales slip as economic uncertainty hit client confidence.

“The company continues to trade both profitably and cash generatively,” said today’s statement.

“With the Printing.com proposition centred on value, we continue to believe that, notwithstanding present circumstances, the company is well positioned to mitigate the contraction in SME and corporate spending.
 
“Accordingly, whilst in the short term, given the continued economic uncertainty, it is prudent for us to be cautious, we remain optimistic about the company’s longer term prospects.”

Printing.com owns around six stores has a franchise estate of 40. It also has about 220 “bolt-ons” which are usually attached to an existing business such as a designer.

The group said there had been some consolidation within its franchise estate but it has continued to grant bolt-on franchises at an “encouraging” rate. It expects to grant further licences over the coming months.

The company plans to unveil its full-year figures on June 1.