Thomas Potts has warned that its profits for the year ending 31 March 2001 will be lower than last year, possibly by around 25%.


Chairman Stephen Har-grave said this was due to a period of investment following the acquisition of CCS and formation of CCS Potts (PrintWeek, 26 January).


We did say this was likely to have an impact on results, he added.


The third quarter was pretty soft all round, but the fourth quarter is much stronger, and we expect to increase our dividend.


Retired former group managing director John Turner continues to assist the company part time.


His replacement, former Prontaprint managing director Alan Barnett, joined the group in January.


Hargrave and fellow investor Nigel Wray have substantially increased their holdings in the company.