22-11-2006 - Printing.com - Printing.com sees profits slow down - Manchester Evening News
MANCHESTER'S Printing.com has posted flat profits after a summer slowdown of sales, caused by customers reining in their advertising spend.Chief executive Tony Rafferty said the entire advertising sector had been having a tough time, and that Printing.com's customers, typically micro-businesses such as hairdressing salons, had not been immune from this.
"It has been a difficult year for our sector. When there is nervousness in the business community, the first thing that suffers is the advertising spend."
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He said trading had improved markedly in September and October, thanks to promotions to encourage customer spending.
Printing.com has 175 outlets, which it owns or has franchised. All orders are processed from its Trafford Park hub, which has received a £3.5m expansion.
In the 28 weeks to October 15, profits nudged up 0.7 per cent to £1.02m. Turnover fell slightly to £6.1m, reflecting a change in ownership of a number of stores, which moved to franchises.
The company lifted the dividend by 20 per cent to 0.6p per share.