11 August 2014 – trading update
The marketing and print services group has confirmed that results for the year ending on 1 August will be in line with expectations. The Marketing Services business has continued to trade strongly with results significantly ahead of the previous year and the business continues to extend its range of services primarily through acquisition. Although trading conditions in Print Services have been difficult, the business will still deliver like-for-like revenue growth and the group continues to focus on higher margin business rather than the commoditised volume print business. Pre-tax profits for the year that has just ended are forecast to be £29.2m for earnings per share of 17.6p. With further progress expected in the current financial year we continue to rate the shares a BUY.