NEWS11 March 2014

St Ives sees growth in marketing services revenue

Financials News UK

UK — St Ives Group has reported a 50% increase in revenue in its marketing services division for the 26 weeks ended 31 January. 

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Its half-year results showed underlying group revenue up 2% to £164.8m, while marketing services revenue hit £46.7m – helped in part by the research and consultancy business Incite, which was acquired by St Ives in 2012.

St Ives said both of its consultancy business, Pragma and Incite, delivered revenue growth. “Although,” it said, “our investment in people and overseas offices has had a short-term negative effect on margin. This is in line with our strategic plans and we are very pleased with progress to date.”

Marketing services generated 35% of St Ives’ underlying group operating profit. Underlying profit before tax was up 13.1% to £12.9m.

Other companies in the St Ives Group include Occam, Response One, Amaze and Branded3.