News blog
Printing.com
- BY: Andrew Hore |
- POSTED: 06/06/2012 |
Printing.com is successfully changing its focus to online printing services but there is still a long way to go.
All of the growth in revenues last year came from online services. That was partly down to a full 12 month contribution from the Netherlands business acquired late in 2010 but there was also strong organic growth and initial revenues from new services.
The TemplateCloud.com site is going to be the engine of online growth. It enables designers to make their own designs into templates that can be edited by clients. The company plans to launch the service in the US later in the year. BrandDemand, the service aimed at larger businesses, is building up its revenues.
Group revenues rose from £17m to £21.8m in the year to March 2012, with online revenues growing from £2.64m to £7.4m. Pre-tax profit edged lower from £1.31m to £1.26m. EBITDA rose by one-fifth to £3.43m.
The business was strongly cash generative last year. Net cash was £1.77m at the end of March 2012.
The dividend has been cut from 3.15p a share to 2.55p a share due to a lack of distributable reserves. A capital reorganisation will cure this problem.
At 27p a share, up 2p, Printing.com is valued at £12.8m.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMay2012_32.pdf
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