News

St Ives has said its financial position remains "robust" in an interim statement released to coincide with its annual general meeting on Monday (3 December).

Total sales over the 13 weeks to 2 November rose 14.6% on the same period in 2006. The lion's share of that increase came from Service Graphics, the large-format firm it acquired in November last year, which accounted for 12.7% of the total growth.

Brian Edwards, chief executive of £425m-turnover St Ives, told printweek.com it was "business as usual" and an "encouraging start to the year".

He added that the economic outlook remained "uncertain", but said the group's strategic focus on "short-run, time-sensitive, added-value print solutions" was continuing to prove successful.

St Ives expects to generate revenue of £40m per annum from its recent print management win with Royal Mail once the transition of work completes in June 2008.

The firm's full-year results in October showed an 11% year-on-year revenue rise, with Service Graphics contributing £30.3m in sales.