Chief executive Tim Griffiths said the group would monitor the markets for an indication on the right time to make its move.

Williams Lea would become the first print flotation on the main market since Fulmar Colour Printing in 1996. The sectors stock has dwindled in recent years as investors have moved away from traditional industries.

A leading analyst for the print sector said that Williams Leas diversification into facilities management services made it a more attractive option.

"If they can prove that their value-added services have attributed to an increase in turnover, this could result in a higher valuation," he said.

Another company that has been mooted as a potential flotation candidate is fellow print management company Astron Group, which raised the prospect in PrintWeeks Top 500.

David Mitchell, chief executive of the Huntingdon-based firm, said this week: "We are still maintaining this as an option, but we are likely to review it in the autumn. We will watch the Williams Lea developments with interest."

Williams Lea started life in 1820 as a general printing company, producing books, stationery and periodicals. In recent years it has expanded to offer document management systems, and now employs more than 1,500 staff.

The news came as Williams Lea was tipped as "one to watch" in this years BTVision 100 index of the UKs most visionary organisations, which was published in The Guardian newspaper this week. The listing covered the public and private sectors and included SMEs.

Griffiths said Williams Lea had increased its turnover by 57% to 140m for the year ending September 2001.

Story by Andy Scott