LONDON (ShareCast) - Marketing and printing group St Ives reported higher profits and revenue than last year and said its new financial year had got off to a good start.
St Ives said underlying operating profit and margin were both ahead of the equivalent period for the prior year in the period since 2 August, while group revenue was about 9% ahead due to acquisitions and internal growth.

The group's marketing services business continued to grow and was performing well, in line with expectations. Revenues were significantly ahead of the same period last year, driven primarily by acquisitions, and the operating margin had increased.

It was seeking more acquisitions around data marketing, digital marketing, consultancy services and field marketing.

The group's print services businesses continued to do well, despite trading conditions remaining challenging, particularly in retail.

"Overall print service revenue was broadly flat, reflecting an exit from the direct mail printing market in the prior year.

"We will continue to invest in the print services businesses to maintain their market leading positions in book printing and associated services, and in marketing print," St Ives said.

The group added: "Our balance sheet remains in a strong position, giving us the capacity to invest further in our existing businesses and, where appropriate, acquire further marketing services businesses that meet our stringent criteria."

Shares in St Ives lifted 1.5p or 0.8% to 180.5p at 15:36 in London.

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