Printing.com sees profits fall 17%

RETAIL chain Printing.com saw profits slide 17%  to £1.7m last year amid ‘challenging trading conditions’.

The company, which is based in Manchester’s Trafford Park, had a turnover of £14.46m to the end of March 2010 compared with £14.47m last time.

And it believes that its results over the next financial year should improve – despite the economic climate – as a result of new products and increased overseas growth.

The company’s pre-tax profit was £1.7m in 2010 (2009: £2.06) which chief executive Tony Rafferty attributes to trading in the Irish division of its business.

It has also invested £1.04m (2009: £0.59m) in new software which will assist business in the future.

The company has increased the number of sites it operates from 283 to 288 over the past year and believes that there is also potential to increase the potential of its
facilities at Old Trafford.

Mr Rafferty said: “We anticipate that we will be able to move into new markets over the next year through a new offering which will see an increased use of templates to streamline our offering.

“But one of the things we are aware of is that confidence is at rock-bottom among SMEs.

“A loan which we took out three and a half years ago is also due to be paid off next April and that will also have a beneficial impact.”