St Ives revenue slips as print markets weigh

18th Jun 2013 07:51

Marketing firm St Ives revealed weaker revenue in the four months to the end of May and said whilst there is no sign of improvement from the difficult trading conditions across its Print markets, its Marketing Services businesses are performing well. Group revenue for the seventeen-week period to May 31st 2013 fell 4% to £4.6m. "The decline was due to the expected reduction in Print revenue of approximately 10%, as a result of exiting non-profitable markets, partially offset by Marketing Services revenue growth of approximately 30%," St Ives explained.Otherwise the group said it continued to make good progress repositioning the group and its recent acquisitions of Amaze and Branded3 have strengthened the group's offering."Despite the ongoing investment in acquisitions and restructuring, the group's balance sheet remains strong and underlying free cash flow continues to be robust," St Ives said.Shares of the group tumbled 5.37% at 141.00p at 08:45 in London.CJ