The group which encompasses web and sheetfed printing, finishing and software development said it would use its favourable economic and technological position as a springboard to increase profits and its international position.

Managing director Hans Damgaard did not rule out buying UK printers, adding: Acquiring a business or buying a new press is a means, not an objective.

We have made a very firm decision to further develop our position in directory and catalogue printing, said Damgaard. We are running at almost full capacity and will soon get to a point where we have to decide to invest in a new press or look in the market for acquisitions.

Stibo Graphic, the groups web printing plant, has made inroads into the UK market in recent years, with its 16m investment in a 96pp MAN Roland Lithoman helping it to win the deal to print the UK editions of the RS Components catalogue in 2000, at the expense of Jarrolds.

The group was founded in 1794 in Aarhuus with a royal charter to print for the church, the king and the local university.

In the 1960s a foundation was formed to run the group and in 1970 it expanded into developing publishing software for newspapers through CCI Europe.

Stibo employs 1,100 staff and has operations in the UK, US, France and the Far East, as well as its native Scandinavia.

Story by Gordon Carson