Sales in the six months to 30 June rose 4.2% to 21.6m, while pre-tax profits prior to exceptional jumped 24% to 1.96m.

Exceptional costs of 150,000 related to the relocation of WE Baxter in May. Last year the group had an exceptional credit of 180,000 in the same period.

Turnover in the commercial and financial wing nudged up by 1.9% to 15.09m, and Taylor said demand was improving although profitability remained "contrained".

Sales in the buoyant book printing division, which includes White Quill and Bookmarque, grew by just over 10% to 6.54m. Two months ago Fulmar announced a major investment in a third Timson web for the Bookmarque plant, which will increase its capacity to more than 50m books a year.