Wyndeham Press, the Hove-based specialist printing firm, announced 70 redundancies following several months of poor trading conditions.

But no job losses are expected at its magazine printing division in Southwick.

At the company's AGM, chairman John Jackson said: "Wyndeham has experienced a deterioration in market conditions and competitive pressure has continued to intensify. The board believes an improvement in these conditions in the short term is unlikely."

He said turnover and margins had fallen behind budget in the first quarter of the current financial year.

"If these market conditions persist, the board expects interim profits for the period to Septem-ber 30 will fall substantially below that for the comparable period last year and full year profits will be materially below market expectations."

Mr Jackson said Wyndeham was relocating companies in its commercial division to a new site in Bedfordshire, which would result in the 70 redundancies.

The relocation was expected to be completed by the end of next month.

He said the company was confident its technological leadership placed it in a good position to benefit from any improvement in the market.