Chief executive Tony Rafferty said he was more than pleased with the results, which showed a pre-tax profit of 160,000, compared with a 398,000 loss for the same period last year.

The aim is to grow our turnover further and increase our market position by opening more franchises in untapped areas, he said.

Franchise revenue grew from 91,000 for the whole of last year last year to 411,000 in the 28-week period.

Sales rose 36% to 3.9m, and Rafferty said he was anticipating significant growth despite current market conditions.

This is a massive market worth some 1.2bn, added Rafferty, who felt that some companies were losing business and money because they had failed to distinguish themselves enough from their competitors.

Printing.com received an encouraging response at the National Franchise Exhibition in October, where it marketed its full franchise offering.

The firm is marketing the full franchise operation as a direct alternative to rival chains such as Kall Kwik and Prontaprint.

The aim is to launch the first full franchise outlets in early 2003, added Rafferty.

Corporate research company Hardman said the results showed that Printing.com had turned the corner.

It rated Printing.com as an investment grade stock, and said it would be interesting to see if the company decided to move from the OFEX to AIM market, given its current performance.

Printing.coms network now totals 43 outlets, comprising 14 company-operated stores and 29 bolt-on franchises.

The company has a central printing plant in Salford, Greater Manchester, and takes orders through its network of stores and website.

Story by Andy Scott