office2office reports decline in office supplies business revenues
office2office said on Tuesday revenue in the contract office supplies business has declined.
office2office said on Tuesday revenue in the contract office supplies business has declined.
Ahead of the company's annual statement in March, the group revealed that it has had to contend with a tough market since its November interim management statement.
The group is expected to report an underlying profit before income tax in the range of £6.3 and £6.7m for the year ended December 31st.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Revenue exceeded that for the same period in 2011, reflecting the growth of its Truline and Business Critical Services activities.
However, the provider of office supplies and business solutions said it "has not been able to compensate for the difficult trading in the contract office supplies market".
The company anticipates a slightly higher level of borrowings than the previous year.
Shares droped 4.86% to 117.50p at 15:53 Tuesday.
RD
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published