Good to see Communisis CEO Andy Blundell has streamlined the way the group reports its results, providing additional clarity in the process by doing away with the old 'central costs' line that so irked me.
Looking at the restated 2009 figures using the new segmentation into Intelligence Driven Communications and Specialist Production & Sourcing, the corporate costs line is now just under £4m, meaning that circa £6m of other costs have been more accurately allocated in the restated figures and will be in the future, which surely has to be a good thing. Maybe those stellar margins of 25%-plus for tech services won't be quite so stellar in future, but they will be realistic.
I must try and get hold of a campaign or two produced on its HP T300 inkjet web, too. This has been up and running for a couple of months now and has produced 'several' live jobs for clients. I'm intrigued to see what sort of work it's producing, and how much variable content there is in it.
The City seemed fairly warm about the news, and the accompanying trading update, as there was a veritable leap in Communisis' share price of 6.67% to 24p.