Printing.
com pians
AiM siiare issue
Printing.com, the copyshop
franchise chain, is placing 3.8
million ordinary shares at an
issue price of ^op a share on
the Alternative Investment
Market (AIM) Vidth the object
of raising /1.15m. Trading will
commence on August 11,
although chief executive offi-
cer Tony Rafferty tells
Printing World that the placing
is already over-subscribed by
30%.
Printing.com reporied a
pre-tax profit of ^941,000 on a
turnover of/9.3m to March 31,
2004. "Raising more than
Apple hits eight-year high with IPod
Profits in the third quarter
ending June 26 increased to
$6im at Apple, the
company's highest in eight
years.
The figures were over three
times higher than the 2003
equivalent figure of $i9m,
despite being dampened by
an after-tax restructuring
charge of $6m.
legal notices
Appointment of
Administrators
• Javeiin Printing Ltd and
JaveiJn Printing UK Ltd
Commercial printers.
Administrators: HA Shinners
and RWL Horton, Smith &
Williamson Ltd, No i Riding
House Street, London WiA
3AS
Appointment of
liquidators
•Wiiliam Green Ltd Printers.
Liquidators: P Barrett and | R
Tickell, 1640 Parkway,
Solent Business Park,
Whiteley, Fareham,
Hampshire
PO157AH
£im will provide additional
robustness to the balance
sheet," says Mr Rafferty.
Mr Rafferty says the com-
pany now has 85 outlets: 11 are
owned stores; 14 are franchised,
with a further seven under
option; and 60 are 'bolt-on' fran-
chises within established print,
copy and graphic design shops.
There is also a division
which markets to various
accounts under the banner
Printing.com @ theAgency,
which Mr Rafferty says might
be subject to a buyout "at some
stage".
Total revenues for the
quarter were up by 30% to
$2bn.
CPU unit sales were up
14% year on year but the pop-
ular IPod, whose sales surged
183%, created a real impact
on profits.
Apple expects profits to be
sustained with the launch of
the compact version of the
• DuniaPublications(UK)Ltd
Publishing of books.
Liquidator SRCork. Prospect
House, 2 Athenaeum Road,
London N209YU
• Casdec Ltd Publishing,
printing and graphic design.
Liquidators: DLCockshott
andGE Blackburn, BWC
Business Solutions, 8 Park
Place, Leeds LS12RU
Meetings of
creditors
• DJT Stationers Ltd at First
Floor, 167 High Road,
Loughton, Essex IGio 4LF on
• T h e Big Poster Company Ltd at
Key Johnson Gee, Criffin
Court, 201 Chapel Street,
US newspaper ads
There are also plans to open
a second hub in Kent, with the
possibility of taking the con-
cept into Germany,
Switzerland and then to Italy
and Austria, although Mr Raf-
ferty says the plan is first to
improve the UK business and
bringin more franchises.
The target is to take the
number of outlets to 175 by
2005.
printing, world@cmpinformaton.com
• Plans to raise f l . 15m on the AIM
• Second hub in Kent
1175 outlets by 2005
iPod but analysts say that the
company is experiencing
supply chain difficulties that
could have a negative affect
on results in the forthcoming
months.
thawkin~s@cmpinformation.com
• Highestquarter profits foreight years
•Trebled yearon year
• CPU unit sales up, iPod strong
Salford, Manchester M3 5EQ
on July 30 at 12 noon
Final meetings
• Eaton Press Direct Ltd at
PKF, Sovereign House,
Queen Street, Manchester
10.30am for members and at
iiam for creditors
• Cover Publishing Ltd at David
Rubin & Partners, Pearl
Assurance House, 319
Baliards Lane, London N12
8LY on August 12 at ioam for
members and at 10.15am for
creditors
• Postmark Pubiisliing Ltd at
Smith & Williamson Ltd, i
Bishops Wharf, Walnut Tree
Close, Guildford GUi 4RAon
pick up in patches
By Jane Ellis
Newspaper advertising in the
US is demonstrating some
pockets of improvement,
although second-quarter
profits do not indicate the
beginning of an across the
board recovery.
The Tribune Company,
which publishes the
Chicago Tribune and the
Los Angekse Times, for example,
reported lower second-quarter
profits following the setting
aside of $35m to cover a settle-
ment with advertisers
regarding circulation misstate-
ments at two of its newspapers,
Newsday and Hoy (See Newspa-
personpagep).
Dow |ones, publisher of
the Wall Street Journal, on the
other hand, reported an
increased quarterly profit of
10% as advertising revenues
increased.
Nevertheless, the overall
set of results remains "well
below what we consider nor-
mal levels", according to ceo
Peter Kann.
The New York Times
reported a similar picture.
Advertising sales rose by
3.9% through an improve-
ment in retail and
August 10 at ioam
•'h^ucolour Press Ltd at 60-62
High Street, Harpenden,
Hertfordshire AL5 2SFon
August 26 at iiam
•Tbeiypefoundry Ltd at BRI
Business Recovery and
Insolvency, 100-102 St |ames
Road, Northampton NN5 5LF
on August 18 at 2pm
• Silhouette Print Ltd at
Begbies Traynor, the Old
Exchange, 234 Southchurch
Road, Southend-on-Sea,
Essex SSi 2EG on August 31 at
io.3oani for members and at
10.45am for creditors
• Coiortone Repro Services Ltd
at 93 Queen Street. Sheffield
Si tWFonAugust 17at
10.30am for members and at
10.45am for creditors
recruitment advertising, but
the technology and property
advertising sectors were still
weak.
The company anticipates
improvements in the second
half, but says it will need to
continue to keep close control
on expenses in order to
achieve full-year earnings
growth.
The New York Times is con-
tinuing with plans to add
eight print sites across the U S
to increase capacity for colour
advertising.
Classified advertising con-
tinues to be the primary
source of grovrth at
Media General's publishing
division, particularly at the
Tampa Tribune, the Richmond
Times-Dispatch and the Win-
ston Salem journal.
Retail advertising remained
at approximately the same as
last year, while preprint
revenues were higher by 6.1%
as a consequence of an
increased circulation at the
TampaTribune.
printing.world@cmpinfonnation.com
• US newspaper advertising up and down
• Retail and recruitment advertising up
• Generally below normal levels
Cover at a
premium
Employers' liability insurance,
which pays out for accidents in
the workplace, is expected to
increase by around 15% for the
rest of 2004.
The rise comes on top of an
average 50% increase in pre-
miums in 2002 and a 35%
jump lastyear, which has led to
companies unable to afford
the cover shutting down or
trading illegally without it. The
Association of British Insur-
ers says underwriters are
trying to push through
increases because they are
continuing to lose money on
the business. In 2002, the cost
of claims exceeded the
amount insurers received in
premiums by/306m.
PrinUng Worid | July 22 2004115