Communisis on track to deliver

PRINTING group Communisis said today it was continuing to trade comfortably in line with the market’s profit expectations for the full year.

In a year end trading update the company said it had replaced some of its current outstanding lending agreements with a new £20m three year committed loan facility with Lloyds TSB – which is repayable in 2012.

The Leeds-based company said the new facility demonstrates the robustness of the its financial position and provides “a debt maturity profile that is much better suited to Communisis’ longer term strategic plans.”

Communisis provides print and marketing communications to customers including Tesco, Marks & Spencer, Starbucks and major banks including Barclays.

The company has benefited from the increased activity within the banking sector as a result of the credit crisis.

Earlier this 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.