Publishing Technology makes 'strong progress'

<p>Systems provider Publishing Technology has reported &quot;strong progress&quot; with a 5% growth in revenue to &pound;7.7m in its six months results to 30th June. The gross margin for the company also saw a rise, up 4% to &pound;3m from &pound;2.9m over the same period in 2008.<br /><br />Chief executive George Lossius said: &quot;Despite the background of general turmoil in the economy, this year&#39;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.&quot;<br /><br />Lossius said that the second half of the year should see the benefit of a &quot;natural cyclical increase in sales in certain areas of the business&quot;. He said it was &quot;exciting&quot; that &quot;investments made in new product development and geographic expansion are showing real promise, both for the remainder of this year and the future&quot;.<br /><br />The company provides systems and services to publishers covering editorial production, distribution and rights. Publishing Technology&#39;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 &#39;Advance Rights &amp; Royalties&#39; system.</p>