Revenues at the company were down 8% to the £11m mark while operating profit for the 12 months came in at £240,000.

However, Colourgen managing director Jeff Biggs said that an 8% dip was a "significant achievement" in a large-format market that has contracted by an estimated 20% at least.

"We have retained profitability despite the global recession and the weak pound, while maintaining a healthy balance sheet and strong lines of credit," he said.

Biggs added that, in the same period, the company had also taken complete ownership of its Maidenhead-based demonstration and office facility.

He cited the launch of new H&V series solvent printers from Seiko II and being appointed UK distributor for French laminator manufacturer Kala as highlights of its financial year.

"We continue to respond to customer demand by developing our product portfolio to include the best new printers, laminators, consumables and software, as well as our own value media brand, which has proven to be a real success," he said.

"Our solid performance through this difficult time, together with some exciting developments in terms of strategic direction and new market sectors, means we are in an excellent position to take full advantage of the upturn in the economy.

"Performance so far this year is positive and we look to return to year-on-year growth as quickly as possible."