Communisis expects to reach financial expectations for the year, despite plans to close Bristol office
Marketing services company Communisis has said that it expects to achieve its expectations for its financial results for the year, following decision to close its offices in Bristol, while also picking up new contracts with Boots and Northern Rock.
In its Interim management statement for the third quarter of its financial year, ending 30 September, the group said it had maintained its performance and expected the full year to remain unchanged, while picking up contracts with Boots UK and Northern Rock in recent months. The company also saw retained client Barclaycard increase its marketing services needs through the group, while Proctor & Gamble also tasked it with a further contract to deliver a multi-country loyalty scheme – bringing in annual revenues of over £20m.
The group also recently informed employees at its Bristol site to transfer its facilities to Liverpool, Manchester and Leeds, while entering into consultation which will see the closure of the south west offices by the start of next year, costing around £0.9m in restructuring costs, but are expected to deliver annual cost savings.
Andy Blundell, chief executive of Communisis, commented: "We are continuing to execute our plans for profitable growth and I am pleased with the further good progress we have made during this quarter. Customers drive our strategy and we remain focused on improving the effectiveness and efficiency of their marketing programmes and transactional communications."
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