At just over 19m sales too were up 6.25% on 2000 and chief executive Mike Milton has described the performance as "more than pleasing".

Milton added that all of the groups trading companies (MPG Books, MPG Information and MPG Communications) were profitable. "Weve turned the corner," said Milton. "Were not there yet but were getting there."

Just five years ago the Martins group was "staring over the precipice" said Milton, after it reported losses of 4m on sales of 38m.

Since Milton was appointed chief executive in November 1996, replacing John Quinney, he has been busy "right-sizing" the group. Milton closed two plants in 1997 (St Albans and Rochester) and exited from colour printing in 1999 when he sold its Kettering plant (now Eclipse Colour Print) to an MBO team.

"There has been a lot of water under the bridge and a lot of pain but now were beginning to see the rewards," said Milton. The group now focuses on mono book, journal and directory production at its sites in Woking and Bodmin.

Around 4m has been invested in MPG Books in Bodmin over the past three years, which is largely accounted for by three 1/1 MAN Roland 700 presses, the last of which was officially commissioned by PrintWeek executive editor Lauretta Roberts last week (22 March).

The Bodmin plant, which has sales of 8.9m, is now considering investing in a four-colour press to enable in-house jacket and cover production.

Story by Lauretta Roberts