"People can speculate as much as they want, but this will happen," said sales and marketing director Ian Thorpe.

NJP was keen to play down its recent Emap loss, which accounted for 3m a year 18% of its business.

"Losing Emap was disappointing, but we're moving on," Thorpe said. "They are gradually fazing out the work, enabling us to refill our presses with six new clients."

NJP remains confident in its new site despite over a year of delays. "We now have solid backing from local investors and deals on the table," Thorpe said.

Despite a condition of its management buy-in that it would have to relocate from its current Whitefriars site, Thorpe said that the move could not be rushed. "We can remain in parts of our current building until 2010," he said.

"The parts where our presses are kept aren't being developed for another four years."

NJP has been considering a number of cost cutting options including the loss of up to 30 staff and the closure of its London office.