Sales in the six months to 31 December 2003 rose 6% to 14.25m, while the company's loss on ordinary activities before tax was 524,000 (2002: 1.2m)

Chairman John Wheatley said that trading had improved after a tough start to the firm's financial year last summer. The West Midlands web printer's sales drive in a number of key areas, including press finished products and niche magazines, was "showing some very positive results", he said. "One or two contracts have come to us out of the TPL closure, but more importantly for this six months is what we've been doing for ourselves, not from other's misfortunes."

Cash generation also improved in the period, and Cradley's EBITDA (earnings before interest, taxes, depreciation and amortisation) jumped by almost 150% to 916,000.

The group has bought out managing director Roger Marshall's 20% stake in Britespot Publishing Solutions (Marshall remains with the business) for 19,000. In addition it has set up a new contract publishing offshoot in Manchester, Big Spark, described as "embryonic" at the moment, but with the potential for synergies with Britespot.

Cradley also has a new finance director, Ross Cheshire, who joins from Bilston & Battersea Enamels.

Cradley's share price rose 1.61% to 15.75p.

Wheatley today added to his own shareholding with
the purchase of a further 30,000 shares, taking his stake to 73,400, 0.23% of the issued share capital.