Printing.com cautiously optimistic

High street printing services firm Printing.com said half year pre-tax fell but while it remains cautious about future prospects, it is well placed for growth.

For the six months ended 30 September turnover increased to £10.73m from £7.1m the year before. Pre-tax profit for the period fell to £0.50m from £0.62m previously. EBITDA rose to £1.5m from £1.31m.

Printing.com has declared an interim dividend of 1.05p per share, unchanged from last year.

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Diluted EPS fell to 0.80p from 1p in 2010. Net cash reduced to £0.96m from £1.61m in 2010.

Commenting on current trading the group said, "Across the UK and Ireland trading remains soft. Conversely trading across the Netherlands and Belgium continues to exceed our expectation."

Printing.com said the challenge now, across all of the new channels, is to achieve the necessary scale in an expeditious manner whilst generating a positive contribution as soon as is practicable.

"Given the present economic uncertainty coupled with the many new channel launches, the Board is appropriately cautious in the short term but, moving forward remains optimistic about prospects."

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cj