However, the figures show a marked improvement on losses of 12.6m in the same period in 2004. An operating profit of 800,000 was a further boost for KBA, after it posted a loss of 2.8m in the previous year.

According to KBA president and chief executive Albrecht Bolza-Schnemann the loss was due to "currency losses, higher prices for commodities and energy, below target sales and the additional cost of getting a new generation of sheetfed presses up and running".

Overall sales were up 29.2% year-on-year to 473.5m. Sales for web presses climbed the highest from 2004, up 42.4% to 236.9m and sheetfed sales were up 18.2% to 236.5m.

KBA aims to improve on its full year pre-tax profits in 2004 which were 10.8m.

Story by Philip Chadwick