'materially behind' in current year

Nick Jaspan's picture
by Nick Jaspan has told the market this morning that a combination of slower trading and increased marketing expenditure, would result in the company's performance in the current year being 'materially behind' market expectations.

The statement issued said: "The directors maintain their belief that the plethora of new initiatives including and W3P provide sound prospects for the company moving forward."

However, as the company has no debt and continues to generate cash, the directors added that: "the board intends to recommend the payment of a final dividend at the same level as the previous year."

The AIM-listed company was established in 1997 and joined the Ofex market in 2001. operates online and through a network of its own and franchise-held outlets across the UK and, as a result of a series of acquisitions and licences, now trades in Ireland, France, Holland and Belgium.

The company also exploits its intellectual property by offering licenses to third parties to operate in other international markets, initially in Asia Pacific.

All of the company’s printing and ancillary equipment is based at the centralised production hub and head office in Trafford Park and by centralising its entire output, the company's sales proposition is that it can print much more cost-effectively and can ensure a rapid turn around – usually within three days.

The company's shares were down 5p to 26p in early trading.