Office2office expects revenue to be on par with previous year

Office2office, a provider of office supplies and business solutions, has said that group revenue in the period since July 1st exceeded that for the same period in 2011, primarily driven by its Truline and Business Critical Services activities.

However, while contract sales levels have improved recently, they remain below management expectations with trading results commensurately lower.

As such, underlying full year revenue for 2012 is expected to be similar to 2011 and borrowing levels marginally higher reflecting the investment in the launch of its Truline business.

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"Longer term confidence has been boosted by further substantial contract wins in the Period with Friends Life and a leading UK bank," it said.

"In 2013, these contracts are together expected to generate annual revenues in excess of £20m and will be absorbed within existing group capacity and infrastructure.

NR