St Ives says full year results to be at 'top end' of expectations
St Ives, the London based marketing services firm, saw its share price jump on Thursday after announcing its full year results were expected to be at the "top end" of market expectations.
Second half revenue for the group's strategic marketing services division saw a growth of 12% on a constant currency basis, noting a "significantly improved" operating margin.
St Ives' books wing posted a second half revenue growth of approximately 8% on the same time last year, saying that moving forward, cost cutting and restructuring activities would likely alleviate some of the pressures on the market currently holding back growth.
Despite what the firm referred to as "challenging" trading conditions its marketing activation segment reported revenue growth of around 2% over the second half.
Recent sales of properties in Peterborough and Roche aided in debt reduction and strengthened the company's balance sheet.
As of 1105 BST, shares had advanced 16.64% to 64.00p.