Wyndeham has produced another strong set of annual results, but it failed to announce the acquisitions the industry has come to expect.
Turnover was up 32.5% to 109.2m for the year to 31 March 2000, which included just over nine months contribution from last years acquisition, Impact Litho. Profit before tax and amortisation of goodwill was up 17.6% to 14.7m.
Chief executive Bryan Bedson said the market had been "tough" so far this year, but "we all have to knuckle down and get on with it".
"It was a bit sticky to start off with," he added. "The millennium was a bit of an anti-climax."
Wyndeham is in the midst of an investment programme across the group. Bedson signed up for one of MAN Rolands DICOwebs at Drupa, along with a five-colour Komori Lithrone for Grange Press, a 10-unit perfecting Heidelberg Speedmaster 102 for Westway Offset, and a Komori Lithrone for Keyne Print.
ET Heron is also trialing CTP equipment, and Bedson said the technology would be installed throughout the group, although he was unwilling to reveal the supplier until after a management meeting next week.
Bedson said that Riverside Packaging Printers, the groups sole packaging interest, although "not particularly a core business", was "profitable and running well", and "played its part in the group".
He also said that Wyndeham was looking to grow both organically and through acquisition, but quashed rumours that it would acquire Southernprint. Additional magazine capacity would instead come in the form of the MAN Roland Rotoman being installed at Heron.
Wyndehams share price rose 7.8% from 266.5p to 282p on the back of the results.