Heidelbergs half-year sales have risen by just under 5% on last year, despite the effects of September 11 and the economic downturn.

Chairman Bernhard Schreier said the year had been "turbulent", though he expected an "upswing" in the US economy next year.

Heidelbergs operating profit fell by 28% to 67m (e110m). Profit after tax fell by over 24% to 38m and incoming orders were down by over 17% to 1.5bn. But sheetfed sales rose by more than 16%.

Schreier said the group had reacted quickly to changes in the market with a programme to cut worldwide costs by 61m.

Sales in North America fell by nearly 19% to 84m, while web systems sales showed the largest fall across the group, dropping 29% to 672m.

"Cutbacks in personnel numbers in the US are unavoidable," said Schreier.

Cuts in overtime, travelling and training spending are also set to be implemented. Expiring fixed-term contracts will not be renewed at Wiesloch, Germany and this will affect 150 jobs.

"The measures will play a considerable role in safeguarding our earnings potential," said Schreier.

Story by Andy Scott