Printing.com reduces losses

Printing.com has reported a 45% rise in turnover and a 43% fall in its pre-tax losses, as anticipated in its preliminary results for the year ending 31 March 2002.

Turnover hit 5.6m, while pre-tax losses were 776,000.

Printing.com reported a cash positive position of 194,000, and had 640,000 cash in hand at the end of the period to 26 May.

Chairman George Hardie said the company would take a third route to the market this year with the launch of its store franchise programme.

The programme will enable individuals seeking a business-to-business franchise opportunity to establish their own Printing.com outlet.

It will launch in October at this years National Franchise Exhibition at the NEC in Birmingham.

Printing.coms network now totals 38 outlets, comprising company-operated stores and bolt-on franchises, and remains on target to achieve 175 outlets by September 2005.