In the year to 31 December 2003, group turnover increased 15% to 300.7m, but pre-tax profits fell by just over a third to 8.7m.

Its print management division, including a first full-year contribution from 2002 acquisition Centurion, contributed 127.5m to revenues, doubling its previous turnover, while pre-tax profits also doubled to 6.6m.

The work generated by the Barclays print management account generated 51m of sales, exceeding expectations. Communisis is now aiming to grow its print management division in Europe, with a new office due to open in Germany.

Operating profits prior to exceptionals were 21.7m, a fall of 14% year on year.

Elsewhere, the business had mixed results. Personalised Products, including Chorleys and Broadprint, benefited most from print management-generated work and grew its sales 6.3% to 118m, although margins slipped 1% to 13%.

Color Solutions sales fell 8% to 33.4m, with operating profits halved to 1.8m and the Colour Cards business still remains on track to be sold during the first half of this year.

Communisis has announced a significant restructuring of its Document Services Europe division, with plant and office closures causing 140 job losses (PrintWeek, 26 February).

Negotiations with staff representatives are under way, with the closures scheduled for completion by September this year and resulting in a 6.5m exceptional charge.

Communisis chief executive David Jones said: We continue to reshape activities as the industry changes. As part of this we anticipate reorganising Document Services Europe.

Sales in Document Services fell 12.4% to 64m and profits slumped by 4m to 2.1m.

Review results
Luxembourg factory to close with 41 jobs lost. Production will be focused in Hertogenbosch, Holland

Administration and sales functions will be scaled down in Vilvoorde, Belgium, with 20 jobs cut

Functions will be scaled down in Breda, Holland, with offices transferring to Hertogenbosch, 10 job losses

Story by Andy Scott