Business
St Ives reports flat sales in media packagingliz.wells@haymarket.com, 31 March 2008Be the first to comment on this article St Ives has said its Netherlands-based CD and DVD packaging division remains “under close review” although action taken on flexibility and costs has enabled it to break even. In its interim results, published today (31 March), the printing group reported a 7% increase in overall revenue to £223.2m for the six months ended 1 February. Its pre-tax profit rose 17% to £12.5m, and sales in the packaging arm were flat. Chief executive Brian Edwards said: "Demand for products in our Dutch music and multimedia business has been subdued. This market presents an increasingly uncertain future and the business remains under close review." St Ives produces CD and DVD booklets and inlays, and a variety of specialist packaging, for music, movie and computer games publishers and producers. Its customers include Sony Pictures, Universal Music, Universal Pictures and a range of large European disc duplicators. St Ives' shares fell 6.5p to 227p this morning following the announcement. Speak Your Mind |
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