In its preliminary full-year results for the year ending 31 December 2009, the Leeds-based group made operating profits of £7.2m before exceptional items on revenues of £190.2m, compared to profits of £15m on revenues of £257.7m in 2008.

Its direct mail operation was badly hit by a drop in demand from banking clients with sales in the division dropping 42% from £91.8m to £53.6m.

Within its print-sourcing arm, "weak" demand from existing clients led to a similar decline in revenues, which fell 40% from £96.7m to £58.1m.

However, the group emphasised that it was "not just a printer anymore", recording a 71% sales increase in its Technology and Services division.

Cashflow improved in the second half of 2009 to £7.5m, up from £6.3m in the first half. However, debt for the year-end increased to £16.8m from £13.1m in 2008.

Chief executive Andy Blundell said that 2009 had been a difficult year for the industry as a whole and that Communisis had "not escaped the impact of those challenges".

"At this point in the year, and as the economy emerges from recession, it is too early to say just how quickly demand will return.

"We take some encouragement from increased activity taking place now at the marketing campaign planning stage; activity which should filter through to Communisis later in the year."

To take advantage of this anticipated rise in activity, the company has become the UK's first customer to install HP's T300 Color Inkjet Web Press.

It is hoped that the £3m investment at the company's Leeds site will drive the group's direct mail offering.

Blundell said: "This is a significant investment for us and one that we feel adds to our competitive edge and further sets us apart from our peers.

"Our latest investment in HP technology and our ongoing partnership with this important organisation means that our customers will benefit from a tailored and streamlined service which, in turn, will help them to communicate more effectively and profitably with their customers."