Operating losses for the year ended 29th February 2004 fell 56% to 896,000. The firm cut losses by raising 842,000 selling its two freehold properties and reducing exceptional administrative charges by 76% to 191,000. It also replaced its bank borrowings with an invoice discounting facility.

Sales for the year were 7.8m, a fall of 8%. It said the fall was due to it discarding business that did not fit with its strategy. The improvement in its figures helped raise its share price 12.3% to 3.38p.

Chairman Warren Tayler said he was delighted that Alpha Retail and Greene King had signed three-year contracts for the company's DocuMarketing product this year. He said that the two contracts provided a sustainable print revenue base.

Documedia announced the signings and extensions to eight client contracts, each worth potentially in excess of 500,000 per year last month (PrintWeek, 3 June).

These included Citroen, as the first client to use its new DocuMarketing one-to-one product.

Story by Andy Scott