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Punch Graphix Announces Preliminary Results for 2005

Wednesday, April 05, 2006

Press release from the issuing company

Punch Graphix, the digital and pre-press printing systems group, which was admitted to trading on AIM in May 2005, today announces its preliminary results for the financial year ended 31 December 2005. Highlights •Very strong overall sales and profit growth during 2005: –Sales were €153.2m, up 46% (2004: €105.2m); –Excluding basysPrint (acquired December 2004) sales increased 24%; –Operating profit of €21.5m up 65% (2004: €13.0m). •Strong equipment sales growth in both pre-press and digital business lines. •Solid growth in sales of digital equipment in the US: -Xeikon 5000 continues to be a leading product in the market, in both quality and speed. •Continued leadership position in newspaper pre-press segment, reinforced through growth of OEM supplier activities for Agfa. •Investment in sales network with new offices opened in China, Brazil and Canada. •Ongoing operational and financial streamlining - continuing into 2006. •Admitted to AIM in May 2005, raising €28.3m net of expenses. Proceeds being used to expand direct sales organisations in key countries, to develop existing marketing infrastructure and to invest in new product development. Commenting on the results, Geoff White, Chairman of Punch Graphix, said: “We are extremely pleased to report such strong growth in both sales and profits in our maiden set of preliminary results. “Since the announcement of our 2005 interims in September, we have worked hard on further streamlining the organisation, both operationally and financially, and have increased our investment in research and development and in product marketing. We have also invested in new sales offices in China, Brazil and Canada and the creation of a new manufacturing facility in Shenzhen, China. This has all been done with the aim of continuing to drive the growth of the business in existing and new markets. “Based on our product range today, our focus on well defined market segments and our plans to expand geographically, both in our current and new markets, we are confident of further growth in 2006. ”

 

 

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