For the six months to 30 June Communisis reported an 8% rise in pre-tax profits to 13.2m, but sales were down 1m at 124.5m. Print manager Centurion made an operating profit of 686,000 on sales of 11.43m in less than two months under Communisis control, and is set to record annual growth of 15%.

However, Communisis sales from continuing operations dropped 10% to 113.1m, with dips in its direct marketing, document services, security products and colour solutions divisions. Operating profits were stable before Centurions contribution.

Communisis has also been named as one of three suppliers for Barclays marketing print requirements. The contract will be managed by c-store, its document management system, and chief executive David Jones hoped it would bring a significant increase in sales.

Communisis chairman Stuart Wallis is stepping down after five years, during which time he oversaw its transition from a building products group, John Mansfield, into todays print and communication business. The search for his replacement is underway.

During the period Communisis took a 2.7m exceptional charge for the value of bonus pools. In May, Jones and Wallis received their first payments, each of 1.6m, under the scheme, which is based on the amount by which the groups total shareholder return (TSR) outperforms the TSR of an equivalent investment in the FTSE all-share index.

The total value of the second bonus pool has been calculated at 5.08m and is payable in March/April 2003.