11th Aug 2015 06:36
LONDON (Alliance News) - Marketing services and book publishing company St Ives said Tuesday that it expects to meet market forecasts for its recently ended financial year.
According to broker forecasts provided by Morningstar, for the year to end-July, Arden Partners expects St Ives to post a pretax profit of GBP31.8 million, whilst N+1 Singer expects GBP32.0 million, Peel Hunt LLP expects GBP31.7 million, and Numis Securities Ltd expects GBP31.4 million.
In the previous year the company posted a pretax profit of GBP11.9 million, although this was hampered by exceptional costs related to redundancies and other charges.
St Ives said Tuesday that trading across its Strategic Marketing segment continued to be positive and significantly ahead of the previous year, and the integration of its recently acquired business Solstice Consulting is progressing well.
Trading in Marketing Activation has been more challenging, hit by ongoing pressures in the grocery retail market. As a result St Ives expects revenue in this segment to be down compared to the previous year, although it expects margin to be maintained as it offsets the fall in revenue with cost reductions and efficiency improvements.
In its Books business it has seen an improvement in sentiment in the physical book market, and it expects revenue from this business to be broadly in line with the previous year, with margin maintained.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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