But the press manufacturer is confident that the market, which is suffering from the weak advertising sector, will be buoyant in the medium- and long-term.

In the first half of the year MAN Roland achieved sales of 538.7m (e850m), a 12% decrease on the same time last year. Pre-tax earnings for the period fell 66% to 7m.

The company predicted that its operating results for the entire year would be around half of last year's figure, which was 56.5m. New orders fell 34% to 491m.

MAN Roland said the press manufacturing sector remained tense. It adjusted capacity in its sheetfed arm at the start of the year and has not had to cut any jobs.

Story by John Davies