Only the financial services division let the side down, with year-on-year sales dropping by 25.8% to 46m.

"It looks like the positive trend in the print media industry is set to continue throughout the financial year," Heidelberg chief executive Bernhard Schreier said.

UK managing director George Clarke (pictured), said Heidelberg UK had ended the year with its best results for "two or three years".

"We beat our target in every single area," Clarke said. He added that he expects the rising sales to continue after an "extremely good Ipex".

"Let's just say we're smiling after a buoyant show. It was much more interesting than the last Ipex, with more printers saying they'd made money and wanted to invest."

Global group sales rose by 12% to 2.45bn, with sales in the fourth quarter up by 18% on 2004/5 Q4. Press sales were up 12.3%. Post-press sales and incoming orders were up for the first time, by 14% and 15% respectively, but losses in that sector increased due to a one-off goodwill depreciation of 4.4m.

Operating profit was up by 31% to 190m, with an EBIT (earnings before interest and taxes) yield of 7.7% on sales. Net profit more than doubled year-on-year to 92m.

Incoming orders were up by 3%, despite being compared to an already high 2.4bn figure for the previous year, which included Drupa.

The results have fulfilled the firm's expectations, but Heidelberg's chief financial officer Herbert Meyer remains cautious.

"Economic risks such as exchange rate movements and raw material and energy prices are still very much a factor," he said.