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Trading statements

Communisis in line with forecasts

21 January 2016 08:39

Personalised customer communication services provider Communisis expects adjusted operating profit for the year ended 31 December to be in line with current forecasts at approximately GBP18m - up 12% year-on-year, or 17% on a constant currency basis.

Associated improvements are also expected to be delivered in both basic and adjusted earnings per share.

Focus on cash generation and active management of working capital during the year has enabled the Group to deliver free cash flow of approximately GBP12m: double the prior year figure. Net debt is in line with expectations at GBP40m.

It says these results represent a sixth consecutive year of improvement in Group performance, underpinned by multi-year contractual arrangements and increasingly embedded client relationships. Barclays, one of the Group's largest clients, has renewed its contract with Communisis for marketing print and direct mail services for three years from January 2016, with the option of a further two year extension.

Chief executive Andy Blundell said: "We have delivered an improvement across all performance metrics during 2015. Growth at Communisis will continue to be fuelled by demand for our integrated marketing services and we are delighted to announce the renewal of our contract with Barclays; one of our biggest clients. Current activity, together with our new business pipeline mean that we are making a strong start to 2016."

At 8:39am: (LON:CMS) Communisis PLC share price was +1.5p at 41.75p

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