Shareholders shouldn't lose sleep ahead of St Ives ' (SIV) full-year results, due on Tuesday 7 October. According to an August trading update, the marketing and book printing group remains on track to meet market expectations for the year to 1 August. Third-quarter sales growth of 8 per cent bodes well for the final lap.
Investors will want to see evidence of further progress in St Ives' strategy of reshaping its portfolio away from print publishing, where trading conditions remain "difficult", towards marketing services. Following the departure of veteran chief executive Patrick Martell, who joined Informa (INF) in August, the heat will be on his successor, ex finance chief Matt Armitage, to keep up the growth.
Management expects marketing services to account for over half its underlying operating profit by 2016 - up from 35 per cent in the first half. Acquisitions are a central plank of the strategy: St Ives acquired digital marketing agency Realise and healthcare communications business Health Hive earlier this year.
Broker Numis Securities expects pre-tax profit of £29.2m for the year, giving EPS of 17.6p, up from £25.2m and 15.4p.
