10% rise in HP imaging and printing sales

Hewlett-Packards imaging and printing systems arm has reported a 10% rise in sales despite continued weakness in IT spending.

Although HP’s third-quarter earnings fell overall by 11% to £10.7bn, sales for imaging and printing systems, which includes printer hardware and digital imaging devices, rose to £3bn ($4.7bn).

HP Indigo, its digital press unit, experienced 17% growth in its installed base, which was attributed to the adoption of digital printing by large corporations.

RR Donnelley, the US print and communications group, also announced its commitment to Indigo presses during the quarter as part of its book-on-demand production systems.

HP reported a net loss of £1.3bn after restructuring and charges of £1.95bn from its £12.3bn merger with Compaq Computer in May.

The company cut 4,740 jobs during the third quarter, and remains on track to cut 10,000 positions by the end of October.

The figures are the first to be issued since the Compaq merger.

By Andy Scott