Marketing services underpins St Ives revenue rise

18th Jun 2014 07:42

- Marketing services division boosts group revenue - Making progress moving away from print markets- Well placed to expand marketing services offeringPrinting and business services firm St Ives increased revenue during the seventeen weeks to May 30th as it continues to reposition itself away from print markets.Revenue rose 7.5% during the period to £106.8m, driven primarily by organic and acquisition growth across its marketing services segment of 6.4% and 37.8% respectively."We continue to benefit from our repositioning strategy as we build a range of added value marketing services whilst exiting the commoditised print markets. "Group operating margin has improved versus the prior year and should continue to do so as the revenue mix changes in line with our strategy," the group explained.Revenue across its print division declined from the same period last year, due primarily to the sale of the group's direct mail printing business in October 2013. On a like-for-like basis, excluding the effect of the disposal, revenue grew by 7.9%.Otherwise St Ives said its financial position remains strong and it is pleased with the progress being made to reposition the group in what it described as a challenging trading environment. The group added that it is well placed to continue improving its financial performance through investment for organic growth and targeted acquisitions to further expand its marketing services offering. CJ