St Ives on course for FY

4th Aug 2011 08:02

Print and marketing services group St Ives is confident of achieving market expectations for the full year as it bolsters its digital and marketing services."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 servicesactivities," the company said in a statement.St Ives, which prints books, mail order catalogues, magazines and annual reports, said actions taken to mitigate the impact of price pressure and declining volumestion in its Print segment are taking effect. It said several existing contracts have been renewed and it continues to win additional market share during the second half. However the ongoing structural changes within these markets will continue to impact upon margins going forward.Its marketing services division is developing well, with its investment in additional sales and marketing resource bearing fruit with some encouraging new business success, it said.The group has recently won a large direct marketing tender within the financial services sector and it is 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," it added.St Ives said its balance sheet remains strong and the group will be cash positive at the financial year-end.---CJ