For the year ended 2005, TripleArcs EBITA operating profits almost halved to 1.8m compared to 3.4m in 2004. However, turnover had improved to 57.5m from 48.2m in the previous year.

2005 was a very difficult year for the group and the board is cautious in its immediate expectations, said TripleArc chief executive Jason Cromack (pictured). However, with contracted revenue increasing by 50% from a strong blue-chip client base and new contract wins since the year end, the board remains positive in the longer outlook.

TripleArc is focusing on a strategy to convert its non-contracted customer base into contracts. It follows a decline in ad hoc revenue from its non-contracted customers, mainly in the area of business forms.

The board is beginning to see momentum building from maintaining its strategy of pursuing contracted revenue and account development, added Cromack.

Following the results, by 4pm 5 June TripleArcs share price was at 4.1p, down 17.5% on the start of trading.

Earlier this year, TripleArc sold part of its loss-making arm Stream GWC to Formpro Mail Marketing for 1.