26 July 2012 – interim results

Encouraging results have been released by marketing services provider Communisis.  Turnover was 15% higher at £112.6m  and adjusted earnings per share, excluding exceptional items, rose by 13% to 1.94p (H1 2011: 1.71p).  The interim dividend was lifted to 0.55p (2011: 0.50p).

Our previous advice was to take profits at 39.125p at the start of March.  Since then the share price has slipped back to a level where we believe that there is now potential for strong recovery.  We now rate the shares as a BUY.