KN22062

KEY NOTE PRINTING : January 2002

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This report covers: printing, advertising literature, books, brochures, leaflets, business forms, diaries, calendars, financial printing, greetings cards, labels, newspapers, packaging, periodicals, programmes, tickets, vouchers, business cards, security printing, stationery, account books, note books, address books, binders, folders, continuous business forms, albums, playing cards, blotting pads, maps, charts, transfers, postcards, greeting cards, pictures, bookbinding, composition, platemaking, typesetting, graphic services, storage boxes, stationery,

Companies covered include: Adare Printing Group, Prontaprint, Kall Kwik, Amcor Europe, Carnaudmetalbox PLC, Chesapeake European Speciality Packaging, Clondalkin Group, Communisis, John Mansfield Group, De La Rue, Dudley Stationery, Macfarlane Group, MY Holdings, Photobition Group, The Polestar Corporation, Rexam, Smurfit UK, St Ives,

EXECUTIVE SUMMARY

Printing is a key market within the UK economy. The universal presence of its products is both a strength and a weakness, since a shift in any part of the economy is immediately felt by the printing industry. Key Note estimates that the UK market for printed products (excluding the sales of bookbinding, finishing and platemaking) was worth £12.32bn in 2001.

Sectors to which UK printers sell include book, magazine and newspaper publishing, advertising, brochures, catalogues, labels and packaging, commercial stationery and business forms, and diaries, cards and calendars.

At the beginning of 2002, the strongest sectors of the market were publishing, advertising, brochures and catalogues. There are other sectors, such as programme and ticket printing, and packaging, which are immense printing sectors in their own right, but these are very difficult markets with narrow profit margins.

The industry comprises thousands of small and medium-sized firms, the majority of which have fairly small turnovers. Only three companies have turnovers of £500m or more, but the major printing companies tend to have lower profits than most of their smaller rivals. In part, this reflects the fact that most of the larger companies are in high-volume, often international, markets in which competition is fierce. Moreover, the profitability of the industry as a whole is declining.

Reduced profitability is one of the principal underlying causes for the high number of company closures and receiverships that occurred during 2001. In addition, there were more than 50 reported mergers and acquisitions the same year. Nevertheless, the industry remains highly innovative and continues to increase productivity.

Despite the level of activity evident in this market, its leaders are frustrated by the poor image the industry has acquired in the City, in Whitehall departments and among school-leavers. One of the important initiatives in 2001 was the publication of a report — Competitiveness of the UK Printing Industry — which was sponsored by the Department of Trade and Industry (DTI) and put together by the industry's representative bodies. The report set out the key issues facing the industry, with proposals for addressing them.

Key Note forecasts that the market will continue to show slow growth between 2002 and 2006. Overcapacity and continued pressure on prices will keep profitability low and hold back growth in the market's value.

TABLE OF CONTENTS

Text © 2002Key Note

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