Profits have tumbled at the interim stage at Cradley, the printing group. On a largely unchanged turnover of £27.6m, the group was able to secure pre-tax profits of only £1.05m, a 43% fall on the £1.75m recorded at the interim stage last time. Management blamed the drop on publishers reducing the content and the print-run of certain titles. However, the second half has started well and the board confirmed that the group had a full order book and was confident of securing further contract wins.