Communisis boosted by crunch
PRINTING group Communisis said today that increased activity within the banking sector as a result of the credit crisis was boosting business.
In an interim management statement for the third quarter the group said it had noted a change in the “revenue mix” with significant growth in the transactional print and cheques businesses as a result of increased account activity from its banking customers.
The Leeds-based company, which provides print and marketing communications to customers including Tesco, Marks & Spencer, Starbucks and major banks including Barclays, said overall it was continuing to trade comfortably in line with the market’s profit expectations for the full year.
The group said the rise in banking revenues more than offset lower demand within its direct mail division which has been affected by customers withdrawing or reducing campaigns as a result of the current economic climate.
On a more positive note Communisis said it was continuing to win new business within its technology and services division – securing sales of its connect web-enabled portal to Xerox, Allied Irish Bank and British Midland.
Communisis said the new business represented a move towards higher value revenues within the business.
The group added that it had also had successfully concluded a significant service agreement with Williams Lea – a leading corporate information provider – which positions Communisis as a preferred vendor for direct mail to HBOS.
The statement said a good balance sheet management remained a key focus for the company.
