St Ives confident despite headwinds

Marketing services and print group St Ives said it made a good start to the current financial year with revenue for the fourteen weeks to November broadly flat compared to the year before.

Marketing services and print group St Ives said it made a good start to the current financial year with revenue for the fourteen weeks to November broadly flat compared to the year before.

Margins improved and underlying operating profit rose compared to last year.

The group, which bought three new marketing services earlier this year as part of its move away from print, said growth across its marketing services businesses from end of July to date was offset by the revenue impact of its decision to exit print markets.

St Ives said trading conditions in print remain challenging but despite the anticipated fall in revenue, it has improved margins and maintained underlying operating profit.

In marketing services revenue and underlying operating profit were significantly ahead of the equivalent period for last year and all of its acquisitions have integrated well.

"The actions we have taken to reposition the group have enabled us to make progress in spite of headwinds in the UK economy," the group said in a statement.

"The new financial year has started well, the balance sheet remains strong and we remain confident that further progress will be made as we continue to execute our strategy."

CJ

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Gold and silver have taken a vicious beating – is the bull market over already?
Gold

Gold and silver have taken a vicious beating – is the bull market over already?

The gold price has tumbled recently, leaving traders nursing losses – just a nasty correction or has the gold bull market run out of steam? Dominic Fr…
12 Aug 2020
Eagle Lightweight GT: the reincarnation of the E-type Jag
Toys and gadgets

Eagle Lightweight GT: the reincarnation of the E-type Jag

Jaguar’s classic E-type sports car has been reinvented for the modern age. The result – the Eagle Lightweight GT – is a thing of beauty.
7 Aug 2020
Should you take advantage of the UK’s new breed of domestic holidaymakers?
Buy to let

Should you take advantage of the UK’s new breed of domestic holidaymakers?

With Britons choosing to holiday in the UK this year, the owners of the country’s holiday cottages are cleaning up. Should you buy in, too? Merryn? So…
10 Aug 2020