LONDON (ShareCast) - (Sharecast News) - Manchester-based design and print business Grafenia said on Wednesday that it expects annual revenues to grow on the back of its recent acquisition of Image Everything.
For the year ended 31 March, Grafenia expects revenues to increase around 7.6% to £15.75m, with revenues from its company-owned Nettl stores improving to roughly £2.56m from the £1.59m seen a year earlier.

However, Grafenia warned that overheads had increased following the acquisitions of three businesses during the period, leading to an underlying loss for the year. Grafenia said this was a result of changes to its cost base and that it estimates it will be "breakeven on a monthly EBITDA run rate during the current financial year".

Since the year-end, Grafenia said first-quarter trading had been in-line with its internal budgets.

The group now intends to review "an extensive list of potential sign acquisition opportunities" which it believes could become either regional hubs or Nettl Business Superstores.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE