Printing.com shows SMEs how to make it

High Street’s design and online printing service Printing.com is putting its experience and faith in their new online offering as they chase pre-taxes earnings of over £2m. Profits by the Trafford Park business were reported before tax at £1.3m for year to March 31 lower than the £1.7m on sales of £17m up from sales of £14.5m.

They have invested in their new online service over £750,000 that started generating revenues this past February and they also purchased in November MFG a Dutch business for £1.7m. Tony Rafferty, chief executive said that 2010 was the year of development while 2011 will be the pushing forward year with over £1.5m in capital expensed for developing the online system this year.

That investment was a priority otherwise printing.com’s best years would have been behind them and they now think they have the scope in order to drive volume. There were no more acquisitions on the horizon and the one for the Dutch company took longer than anticipated.

Dividends ended the same as last year at 3.15p. Revenue grew 5% in London and the south east as compared to a decline 1.2 % in the rest of the country. The CE continued saying that they began dividing between the areas of London and the South East and the remainder of the country.

One reason was due to the fact that those in the city were making much better profits and the money was beginning to circulate in London to SMEs and the home counties. There is now an upturn of marginal quantity in areas such as Birmingham, Leeds and Manchester. The economy moves less, the further you move from banking centres.