Tuesday preview: St Ives reports full year results

3rd Oct 2016 12:58

(ShareCast News) - St Ives Group reports its full year results on Tuesday, after the marketing services business assured trading has continued to be positive despite cancelling and deferring a number of projects in the final quarter.On August 11, St Ives issued a trading update for the year ended 29 July, saying it cancelled and deferred a number of projects in the final three months of the financial year in its strategic marketing segment due to growing economic uncertainty. However, it said trading was 30% above the previous year. Organic growth was 11%.At the time, the AIM-listed company said it remains alert to the economic uncertainty created by Brexit but it is still committed to growth plans in the strategic marketing segment in the UK and abroad. However, the marketing activation segment continued to be challenging due to the ongoing pressures within the grocery retail market, as revenue is about 7% below the prior year.Earlier in the year, the company warned that underlying pre-tax profit for the current financial year was likely to be below management's current expectations as the outlook for the final quarter has "deteriorated".It said current global economic uncertainty is leading to greater caution in the allocation of marketing budgets, which led to the deferral or cancellation of projects.Numis expects pre-tax profit of £30.4m and earnings per share of 17.5p for 2016."The shares have rebounded from their year lows, though continue to offer strong value as further evidence of recovery in strategic marketing and stabilisation in marketing activation and Books comes through, while one year of good cash generation would alleviate balance sheet concerns," said Numis analyst Paul Richards. Tuesday 04 October INTERIMS Quantum Pharma INTERIM DIVIDEND PAYMENT DATE Croda International, Greencore Group INTERNATIONAL ECONOMIC ANNOUNCEMENTS Producer Price Index (EU) (10:00) FINALS Bluefield Solar Income Fund Limited, CAP-XX Limited, Revolution Bars Group, SCS Group AGMS Angle, Ncondezi Energy Limited (DI) TRADING ANNOUNCEMENTS Greggs, St Ives UK ECONOMIC ANNOUNCEMENTS PMI Construction (09:30)