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Welcome to our investor area media centre
The Media Centre offers you the opportunity to track our progress and financial news released during the year and since the publication of the latest Financial Statements, which are accessible in the Investor Area "company reports" section.
Topics covered include major group developments, trading updates, acquisitions and disposals and board appointments.
2010
July
29th July 2010
St Ives plc – Trading Update
St Ives is today providing a pre-close trading update for the year to July 2010.
As previously reported, good progress has been made to improve the performance of the Group and further strengthen its financial position. Trading in the final quarter has been in line with management expectations and market conditions are unchanged from those described in the June Interim Management statement. We are on track to meet expectations for the full year and, despite the tough trading conditions, we have made significant progress from the previous financial year.
Cash flows are strong and net debt remains low, despite funding the cost reduction programme and the acquisition of Occam DM Limited. Actions taken to date to reduce cost and extend the range of services offered, along with our strong financial position, will enable further progress to be made as the economic climate improves.
We continue to explore opportunities to reduce costs and improve efficiencies throughout our plants.
We have further strengthened our management across the group and in particular our sales teams where significant resource has been recruited to support our ambitions going forward.
For further information please contact:
Patrick Martell, Chief Executive
Matt Armitage, Finance Director
St Ives plc 020 7928 8844
Rupert Trefgarne
Smithfield 020 7360 4900
St Ives plc – Trading Update
29th July 2010
16th July 2010
St Ives plc – Director’s declaration – Mike Butterworth
Further to the announcement earlier today in respect of the appointment of Mike Butterworth as a non-executive director of St Ives plc with effect from 1st August 2010, the Company confirms pursuant to UKLA Listing Rule 9.6.13R that Mr Butterworth is Group Finance Director of Cookson Group plc. Mr Butterworth has held no other directorships in any other publicly quoted company at any time in the previous five years. There is no other information required to be disclosed pursuant to LR 9.6.13R paragraphs (2) to (6).
Philip Harris
Group Company Secretary
St Ives plc
Enquiries: 020 7928 8844
Director’s declaration (Mike Butterworth)
16th July 2010
16th July 2010
St Ives plc – Board Changes
The board of St Ives plc is pleased to announce the appointment of Mike Butterworth as a non-executive director of the Company and a member of the Audit and Remuneration Committees with effect from 1st August 2010.
Mike Butterworth is Group Finance Director of Cookson Group plc, a post he has held for the past five years, prior to which he was Group Finance Director of Incepta Group plc after spending five years as Group Financial Controller at BBA Group plc.
David Best will be stepping down from the board at the AGM to be held on 30th November 2010. We would like to take this opportunity to thank David for his contribution during his time on the board.
Enquiries:
St Ives plc 0207 928 8844
Miles Emley, Chairman
Patrick Martell, Chief Executive
June
30 June 2010
St Ives plc – Total Voting Rights and Share Capital
In accordance with DTR 5.6.1 St Ives plc (“the Company”) hereby discloses that the Company’s issued share capital now consists of 103,583,137 ordinary shares of 10 pence each with voting rights attached (one vote per ordinary share). The Company does not hold any shares in treasury. Therefore, the total number of voting rights in St Ives plc is 103,583,137.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, St Ives plc under the FSA’s Disclosure and Transparency Rules.
Philip Harris
Group Company Secretary
St Ives plc
Enquiries: 020 7928 8844
Total Voting Rights and Share Capital
30th June 2010
1st June 2010
St Ives plc – Interim Management Statement and Acquisition
St Ives plc is today publishing its Interim Management Statement covering the period from 30 January 2010 to date. In addition, we are pleased to announce the acquisition of Occam DM Limited (“Occam”).
Acquisition of Occam DM Ltd
Established in 1993, Occam is one of the UK’s leading database marketing services companies. It provides marketing support and business information management software to its blue chip client base in both the public and private sectors. It employs approximately eighty staff, is headquartered near Bristol and has a strong client base which includes a number of FTSE 100 companies and household names.
The acquisition of Occam represents a further step in the implementation of St Ives’ new management team’s strategy to identify products and services in addition to print which will enable the Group to add further value to existing and new clients, complementing our businesses to create an extremely compelling offering for St Ives’ and Occam’s combined client base.
In the financial year ended 31 May 2009, Occam generated underlying* EBITDA of £1.0 million and a loss before tax of £1.5 million on revenue of £8.2 million; gross assets were £10.2 million. The loss was driven by non-recurring items and reduced activity for the year. Based on management accounts, Occam is expected to generate underlying* EBITDA of £2.0 million on revenue of £8.3 million for the year ended 31 May 2010.
St Ives has agreed to acquire the entire issued share capital of Occam, on a debt free basis, for a consideration of £12 million, subject to an adjustment to reflect the working capital position and the audited EBITDA of Occam for the year ended 31 May 2010, with a maximum additional payment of up to £0.6 million.
The vendors comprise ISIS Equity Partners, the existing management team, consisting of James Bagan, Scott Logie and Benjamin McGinn, (the “Management Team”), certain individuals previously involved in Occam’s business, namely, Thomas Jones, Ian McNamara and Kevin Borley; and an Employee Benefit Trust.
The consideration will be paid in cash except that 20% of the consideration payable to the Management Team will be satisfied by the issue of up to 250,000 new St Ives ordinary shares.
Following the acquisition, Occam will operate as a wholly owned subsidiary of St Ives and will continue to be managed by the Management Team.
* Before restructuring costs, provision releases and other non-recurring items
Group trading
For the 13 week period to 30 April 2010, total sales were £90.9 million, approximately 3% lower than for the equivalent period for the previous year. The rate of decline in sales versus the prior year has slowed, as can be seen from the narrowing of the variance against the 10% decline reported in the half year results. Activity in those markets first impacted by the cyclical effect of the recession is starting to improve and we are benefiting from the initiatives to cross sell and to further extend the range of services offered.
Media products
Since 30 January, demand for books has been steady, we have continued to gain market share and to sell more added value services. The recent investment in an integrated short run digital line has been successful and we will add to that offering a ‘print on demand’ digital facility able to efficiently and economically produce single copies of any title.
In magazines, our efforts to replace the recently lost IPC volumes are progressing well, with a focus on publishers and titles that will improve work mix and where there is a need for service and quality. This, we believe, will lead to an improvement in margins. However, over-capacity in this market continues to result in price pressure and as yet there is no increase in pagination or volumes.
Commercial products
Demand for direct response and commercial products remains volatile and price pressure continues to be severe in this market, despite a number of business failures. Excellent progress has been made with our plans to provide solutions to our customers that help to identify, target and communicate marketing messages more efficiently.
The acquisition of Occam is a significant step in providing insight and data services to both existing and new customers across the Group.
We have experienced an increase in exhibition and outdoor media sales in the third quarter of our financial year versus the corresponding period for the previous financial year. Encouragingly, indications are that volume is returning to this market from which we are well placed to benefit.
Overall demand for point-of-sale services has remained steady but margins have been impacted by price pressure passed down the supply chain and in some instances volumes have declined due to unsustainable pricing levels. With a new management team successfully in place, we are confident of our ability to deliver profitable sales growth going forwards.
The actions taken to reduce costs across the Group have been effective and the improvement in working capital has been maintained. Our ongoing focus on the cost base continues and the proposed closure of our web offset facility in Edenbridge, and consolidation of its production within the Group, will bring further cost and efficiency benefits.
Our strong financial position has enabled us to make the necessary investment to restructure the Group’s current activities and invest to develop our offering beyond providing only print and to focus on those products and services where we can add value. Consequently, we now expect that the Group’s operating results for the year ending 30 July 2010 will be ahead of management’s previous expectations.
Whilst the economic outlook remains uncertain, volumes are stabilising and, in some markets, such as exhibitions and outdoor media, there are signs of recovery, albeit from a low base. We are confident that the actions taken to date, our ongoing attention to costs and initiatives to broaden our service offering will ensure the Group continues to make progress both with regard to its financial performance and with its strategic development plans.
Commenting on the Occam acquisition, Patrick Martell, Chief Executive of St Ives said:
“Occam is an excellent fit with our existing businesses and will give us the opportunity to sell a wider range of services across a broader customer group. The acquisition will enable us to offer services that will help our customers to manage their data more effectively and maximise the return from their marketing campaigns. I am delighted to welcome Occam to the St Ives Group.”
www.occam-dm.com
For further information please contact:
St Ives plc
Patrick Martell, Chief Executive
Matt Armitage, Finance Director
020 7928 8844
Smithfield
Rupert Trefgarne
020 7360 4900
IMS & Occam acquisition
1st June 2010
March
Lodging of Interim Statement
18th March 2010
Click icon above to view our Interim Statement 2010
Half year results 2010 presentation to analysts
Loss of contract for IPC's magazine titles
2nd March 2010
February
Notice of Half year Results
25th February 2010
Appointment of Corporate Broker
9th February 2010
January
Trading Statement
26th January 2010
2009
November
Results of Annual General Meeting
30th November 2009
Interim Management Statement
30th November 2009
October
Notice of Annual General Meeting
30th October 2009
Annual Financial Report 2009
28th October 2009
Full year results 2009 presentation to analysts
Preliminary Results 2009
19th October 2009
Final Dividend 2009
19th October 2009
August
Notice of Results 2009
12th August 2009
June
Interim Management Statement
2nd June 2009
April
Changes In Board Responsibilities
17th April 2009
Lodging of Interim Statement 2009
14th April 2009
March
Interim Dividend 2009
31st March 2009
Interim Results 2009
31st March 2009
February
Directorate Change
11th February 2009
January
Trading Statement
26th January 2009
Senior Management Changes
22nd January 2009
Completion of US Disposal
22nd January 2009
Result of Extraordinary General Meeting
21st January 2009
Posting of Circular - Disposal of US Division
5th January 2009
Disposal of US Division
2nd January 2009
2008
December
AGM Results 2008
1st December 2008
Directorate Changes & Shareholding
1st December 2008
Interim Management Statement
1st December 2008
October
Lodging of Annual Report and Accounts 2008
31st October 2008
Declaration From Lloyd Wigglesworth
28th October 2008
Appointment of Lloyd Wigglesworth
27th October 2008
Preliminary Results 2008
21st October 2008
Final Dividend 2008
20th October 2008
Notification of Preliminary Results 2008
3rd October 2008
September
Disposal of Dutch Music and Multimedia Activities
24th September 2008
Closure of DB Pension Scheme
2nd September 2008
June
Interim Management Statement
20th June 2008
April
Lodging of Interim Statement 2008
15th April 2008
March
Interim Results 2008
31st March 2008
Notification of Interim Results 2008
10th March 2008
2007
December
AGM Results 2007
3rd December 2007
Interim Management Statement
3rd December 2007
October
Lodging of Annual Report and Accounts 2007
31st October 2007
Royal Mail Contract Award
19th October 2007
Final Dividend 2007
16th October 2007
Preliminary Results 2007
16th October 2007
Directorate Change - Dame Sue Tinson
10th October 2007
September
Notification of Preliminary Results 2007
25th September 2007
August
Trading Statement
1st August 2007
July
Changes to Board Responsibilities
31st July 2007
June
Declaration - Matthew Armitage
7th June 2006
Appointment of Matthew Armitage
4th July 2007
April
Lodging of Interim Statement 2007
26th April 2007
Interim Results 2007
11th April 2007
March
Interim Notification
23rd March 2007
January
Trading Statement
30th January 2007
Disposal of Corporate Finance Business
16th January 2007
2006
December
Total Voting Rights & Share Capital
28th December 2006
Board Change - Ray Morley Retirement
20th December 2006
Disposal of Corporate Finance Business
19th December 2006
Declaration - Simon Ward
4th December 2006
Appointment of Simon Ward
4th December 2006
November
Acquisition of Service Graphics
6th November 2006
October
Lodging of Annual Report 2006
27th October 2006
Statement - Rejection of Proposal by Tangent
19th October 2006
Response to Tangent
17th October 2006
Preliminary Statement 2006
10th October 2006
September
Statement - Possible Offer
28th September 2006
Rule 2.10 Announcement
28th September 2006
August
Trading Statement
29th August 2006
Declarations of New Non-Execs
23rd August 2006
Appointment of New Non-Execs
17th August 2006
June
Trading Statement
14th June 2006
April
Lodging of Interim Statement 2006
13th April 2006
Interim Results 2006
11th April 2006
January
IFRS Restatement Document
31st January 2006
IFRS Restatement
31st January 2006
Trading Statement
19th January 2006
Board Announcement - Lorraine Baldry Retirement
9th January 2006
2005
November
AGM Results 2005
29th November 2005
October
US Announcement - Hurricane Damage in Florida
28th October 2005
Lodging of Annual Report 2005
26th October 2005
September
Changes in Board Responsibilities
30th September 2005
August
Trading Statement 2005
9th August 2005
April
Interim Results 2005
11th April 2005
Disposal of Johler Druck
5th April 2005
2004
December
AGM Results 2004
1st December 2004
November
Lodging of Annual Report 2004
2nd November 2004
October
Preliminary Results 2004
11th October 2004
September
Acquisition of SP Group Holdings Limited
13th September 2004
April
Interim Statement 2004
16h April 2004
Interim Results 2004
8th April 2004
March
Pension Fund Changes
15th March 2004
February
Relocation of M&M from Tunbridge Wells to Crayford
23rd February 2004
January
Announcement re-rationalisation in USA
29th January 2004
To illustrate the range of our services, of necessity, we have reproduced customers' registered and unregistered trade marks and representations of their brands. The rights that our customers have in their respective trade marks and brands are fully acknowledged.