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Systems provider Publishing Technology has reported "strong progress" with a 5% growth in revenue to £7.7m in its six months results to 30th June. The gross margin for the company also saw a rise, up 4% to £3m from £2.9m over the same period in 2008.
Chief executive George Lossius said: "Despite the background of general turmoil in the economy, this year's interim results reflect continued strong progress across the group. All units performed well in the first half which is traditionally the weaker half of the year, and I am very pleased to be able to report improved group profitability."
Lossius said that the second half of the year should see the benefit of a "natural cyclical increase in sales in certain areas of the business". He said it was "exciting" that "investments made in new product development and geographic expansion are showing real promise, both for the remainder of this year and the future".
The company provides systems and services to publishers covering editorial production, distribution and rights. Publishing Technology's clients include Hachette, Random House, Penguin and Reed Elsevier. New business in 2009 has seen expansion into Brazil, Germany, Japan and Australia. McGraw Hill has also implemented the 'Advance Rights & Royalties' system.