St Ives plc (SIV.L) reported that its Group revenue for the seventeen week period to 31 May 2013 was 4.6 million pounds, approximately 4%, lower than for the equivalent period in the prior year. The company said 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 said, despite the ongoing investment in acquisitions and restructuring, the Group's balance sheet remains strong and underlying free cash flow continues to be robust.
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