Jarvis Porter is "getting back to where it started being a label producer", but has been hit by interim pre-tax losses after exceptional items of over 8.5m.

The losses were mainly due to a 6m charge the group took for the closure of its Creative Packaging business earlier this year (PrintWeek, 11 May). And for the half year to 31 August group turnover fell to 23m.

Executive chairman Michael Maher said the group now planned to take its time considering what to do with funds gathered from the sale of businesses, and hoped to announce a decision when it issues preliminary results next April.

In August, it sold its swing tickets and tags business to a management team led by Trevor Jackson, managing director of its Creative Packaging division (PrintWeek, 3 August).

And later that month, former chief executive Richard Brewster bought the groups dripmat and promotional print wing (PrintWeek, 24 August).

"We will look at the options of either investing in new equipment or maybe making small acquisitions," said Maher.

He said there was also the possibility of returning some funds to shareholders and investors in the form of a dividend, but again that would be considered at the time.

"Although we have had our difficulties, we feel the business is now in a better and more efficient frame of mind," Maher said.

Including discontinued operations, group turnover fell by 31% to 23m. But Jarvis Porter managed to reduce the operating loss for its continuing labels & healthcare businesses from 1.4m to 22,000.

Maher said that the last piece of the business to see improvements was the label production plant in Paris, France, something that is currently being worked on.

Story by Andy Scott