Fast growth in international markets strengthens Communisis
NEW contract wins and accelerated growth in international markets have helped Communisis report a “strengthened” financial position.
The Leeds-based printer, which is a provider of personalised customer communication services, said it’s half year results are on target and considerably ahead of the same period last year,
Communisis said revenues from markets outside the UK grew faster than expected. Overseas revenues grew to 13% of the business’s total revenues, compared to 5% in the same period last year. Overall turnover is 8% higher at £121.2m. Pre-tax profit dipped to £1.3m compared to £1.9m in the same period last year and profit from operations (before exceptional items and the amortisation of acquired intangibles) has increased by 19% to £5.1m.
During the year, Communisis has won a number of contracts, including Lloyds Banking Group, Nationwide Building Society and Yorkshire Building Society.
Andy Blundell, chief executive, said: “Communisis has continued to execute its strategy for profitable growth, delivering results that give the board confidence for the remainder of the year.
“There have been a number of very significant developments during the first half of 2013, especially the long-term contract wins with Lloyds Banking Group and Nationwide Building Society together with a substantial geographical expansion of our services to P&G.
“The group is well placed to take advantage of fast developing market opportunities due to its strengthened financial position and its reputation for production excellence and innovation.
“We continue to analyse a range of acquisition opportunities to broaden and deepen our service offering.”
Communisis said it is investing in its operational base where the group sees growth opportunities.
