Print and web design company Grafenia has announced Gavin Cockerill and Richard Lightfoot have been appointed to the board as executive directors with effect from 23 January 2018. Cockerill joined the group in 2000 and helped launch and grow the printing.com and Nettl business models.
Grafenia said it expected full year results to be in line with revised market forecasts for revenue, EBITDA and net cash despite mixed trading conditions since its late update on 21 February.
The group said transactional print revenues in February ended behind the same period last year but revenues from print in March were strong, significantly ahead of both its internal budget and the corresponding period last year.
The group said the board expects full year results to be in line with revised market expectations for revenue, EBITDA and net cash.
Grafenia has warned that full year earnings and are likely to be significantly behind market expectations.
The group said that while it was making progress with its transformation plan, a material part of its revenues continued to come from transactional print volumes and soft demand in January and early February would impact full year earnings.
At 9:13am: (LON:GRA) Grafenia share price was -1.5p at 6.13p