30 April 2009

LITHO SUPPLIES POSTS FIRST LOSS

Litho Supplies has posted its first loss in 42 years of trading

The group had already warned shareholders that it would not declare a profit, and while acquisitions helped sales last year grow by 13.7% to £49.2m, exceptional costs, bad debts and currency losses contributed to a pre-tax loss of £1.54m. In 2007 they made a profit of £703,000.

As a result of restructuring actions, such as centralising administration functions at its Breaston HQ, the firm has made a significant number of redundancies and has cut its annual operating costs by more than £1m.