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Trading statements

Communisis in line with forecasts

19 January 2017 09:32

Communisis said trading in the year to the end of December ended in line with forecasts.

The group announced a significant new contract win by its customer experience division in November with HM Revenue and Customs for all outbound customer communication.

The group said implementation planning was well in-hand toward the go-live date in mid-2017.

An update said: "The Brand Deployment division has won a new contract with Sony Europe, for a range of customer communication services. The arrangement went live on 1st October 2016 for a term of 3 years.

"Activities will include management of the supply chain for marketing collateral and point-of-sale across Europe.

"Communisis extended its presence in Germany by opening in Berlin to complement existing operations in Frankfurt and Dusseldorf.

"Strong free-cash flow helped reduce net debt by approximately £9m to £30m.

"In addition, the accounting deficit related to the Defined Benefit pension scheme reduced from £57m at 17 October 2016 to approximately £55m at the end of December."

At 9:32am: (LON:CMS) Communisis PLC share price was +1.38p at 45.38p

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