- expects results for the financial year ending 31 March 2012 to be in-line with market expectations.

In the UK, market conditions remain stable, but challenging, and the Company has continued to make progress in the Netherlands and Belgium.

BrandDemand (the Company's online system enabling franchise networks and other multi-site clients to order branded printing) has gained momentum in the UK with over 40 systems now active. and (France) remain at an early stage of development albeit, of late, certain metrics bode well for progression.

During January 2012, the Company met with the vast majority of its UK and Irish Franchisees via a series of regional roadshows. The principal purpose was to communicate new initiatives involving the addition of templates and other technologies to the Company's model.

The new initiatives were generally well received and moving forward the Directors believe that a significant majority of the Company's current partners will remain as Bolt-on Franchisees and therefore this format will continue to be promoted.

However, aspects of these new initiatives may not suit the specific strategy of some existing Franchisees and so an alternative 'White Label' format will be offered and marketed as an alternative. The Directors anticipate that these new initiatives will enable the Company to generate additional revenues from the 'micro business' segment of the market.

At 9:53am: [LON:PDC] share price was -0.25p at 28.25p

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