This morning, we announced our full year results for the year ended 28 July 2017.
We reported a 7% increase in revenue to £393.2 million. This growth was mainly driven by our Strategic Marketing segment, which delivered revenue growth of 13%.
Strategic Marketing is now contributing 42% of Group revenue and 75% of adjusted operating profit, with the growth coming from encouraging new project wins.
There has been significant progress in the key strategic priorities of Collaboration and Internationalisation:
Trading across our Strategic Marketing segment has recovered and we have been encouraged by the new projects being won from existing and new clients. Our forward load for the first half of the new financial year is very encouraging and we are excited by the opportunities that the increased collaboration between our businesses is generating.
While trading conditions within Marketing Activation continue to be challenging, we have taken decisive action to increase efficiency and reduce costs, and remain focused on diversifying into other sectors. Similarly, within our Books business we have taken further steps to ensure that the cost base reflects the future level of volumes we now expect.
Matt Armitage, CEO
“We are pleased to report encouraging underlying progress within our core Strategic Marketing segment. This segment lies at the centre of our long-term growth strategy. In particular, we have seen important progress in our pursuit of organic growth here, through a number of significant new business wins coupled with increasing collaboration between our various businesses and further internationalisation of the business.”
Matt Armitage, CEO,, St Ives plc