4 August 2011
St Ives plc
Year end trading update
St Ives is today providing a year end trading update ahead of the announcement
of its full year results which will be released on 4 October 2011.
The board remains confident that the results for the financial year ended
29 July 2011 will be in line with current market expectations. We have further
strengthened our financial position and we have continued to reposition the
business and reduce our exposure to commoditised print markets, whilst
increasing our focus on more attractive digital and marketing services
activities.
In our Print segment, the actions we have taken to mitigate the impact of price
pressure and declining volumes within our markets are taking effect. A number
of significant existing contracts have been renewed and we have continued to
win additional market share during the second half, although the ongoing
structural changes within these markets will continue to impact upon margins
going forward.
Our Marketing Services segment is developing well, with our investment in
additional sales and marketing resource bearing fruit with some encouraging new
business success.
The Group has recently been successful in winning a large direct marketing
tender within the financial services sector and we are making further
investment in resource to ensure its successful transition into the Group. We
will continue to develop our marketing services proposition through further
acquisition and organic investment to build upon and extend the current
offering.
Our balance sheet remains strong and the Group will be cash positive at the
financial year end.
For further information contact:
St Ives plc 020 7928 8844
Patrick Martell, Chief Executive
Matt Armitage, Finance Director
MHP Communications 020 3128 8100
John Olsen
Ian Payne
Giles Robinson
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