Grafenia trading in line as it prepares to switch to biodegradable laminate

27th Jul 2018 14:12

(Sharecast News) - Investors in Grafenia heard how trading in the company's first quarter had been in line with its internal budgets on Friday, as they gathered for the annual general meeting.The AIM-traded firm did say, however, that the pricing environment for litho print remained a challenge, particularly in its trade channels.Chairman Jan Mohr said Grafenia had continued to expand its Nettl network, both in the UK and overseas."We now have over 200 Nettl locations around the globe, with over 165 in the UK and Ireland," Mohr said."We're also pleased to announce that the first Nettl partner has signed in Australia."Mohr also noted how the company recently completed the acquisition of AG Signs & Print, and welcomed Martin Baily and his team to the Grafenia family.The integration work had now begun, with Grafenia planning to combine AG with its Nettl of Exeter team and establish a new Nettl Business superstore."We are keen to pursue further acquisitions of sign businesses around the UK."Grafenia said printed business cards remained one of its top revenue items, with its 'Luxury' and 'StarMarque' spot gloss ranges being the best sellers - both of which were matt laminated."Single-use plastics have had a lot of attention recently and we've evaluated how we can reduce our usage," Mohr said.From 1 August, Mohr confirmed Grafenia would be switching all laminated products to use a new biodegradable film."This material looks and feels like traditional lamination."However, at the end of its useful life, if discarded in the environment, it naturally bio-degrades and breaks down within 2-18 months."This new bio-laminate will be used across our entire range of business cards, folders, booklets, flyers and menus."Mohr said the company would continue to look for other ways it could "be better".Grafenia said it would next intend to update the market with a detailed interim release on 5 November, unless it had reason to announce something sooner.