This emerged as the Enfield-based short-run magazine printer published its results for 2003, revealing a near doubling in profits despite a drop in turnover.

"There is the option of an MBO, which I would like to see happen," said Stokes.

Operating profits rose to 288,000 in 2003, while turnover slipped 4% to 4.85m. The drop in turnover was due to lower prices across the industry. "These results have been achieved in some of the worst market conditions I have ever experienced," he said.