Sales up, profits down at Communisis

Communisis sales increased by almost 21% to 150.4m in the first half, but pre-tax profits fell by 14% to 5.4m.

The group said the sales growth in the six months to 30 June was fuelled by print management wing Centurion and new contract wins.

Print management sales leapt by 344% to 61.6m thanks to a full first half contribution from Centurion, and sales in personalised products increased by 1.8% to 58.9m. But sales fell in Communisis other divisions: document services and color solutions.

A 500,000 charge for the 5m contract premium paid to Barclays, which is being written off over the life of the contract, and a pension charge of 500,000 reduced operating profits to 12.2m (2002: 13.7m).

The 16.6m turnover color solutions business, which includes Waddington Labels in Gateshead, has been subject to a strategic review and is now being considered for disposal.

[o] Centurion has recruited Tony Massey from rival print management firm Alistair McIntosh, part of Williams Lea. Massey becomes business development director at the Rickmansworth company.

Story by Jo Francis