18th Jun 2014 07:46
LONDON (Alliance News) - St Ives PLC Wednesday said it saw revenue rise 7.5% to GBP106.8 million in the seventeen weeks to May 30 compared to the same period in the previous year, driven by growth in its marketing services division.
The marketing and print group said it had continued to benefit from its strategy of shifting towards marketing services and moving away from the declining print market, leading to improvements in its operating margin.
In the marketing services division, revenue rose 6.4% on an organic basis, and 38% in total, including its integration of Realise Digital and Hive Health.
In print, revenues declined compared to the previous year, hit by the sale of St Ives's direct-mail printing business in October 2013. Excluding this sale, revenue grew 7.9%.
St Ives said it had successfully restructured its print operations and would continue to invest in its remaining businesses to improve the range and quality of its print services.
The company said it was pleased with its progress in a challenging trading environment, and noted it was well placed to continue improving its performance through investment in organic growth and targeted acquisitions.
Shares in St Ives were trading up 0.9% at 215.25 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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