Best-sellers help put St Ives back in the black - Business - Evening Standard
       

Best-sellers help put St Ives back in the black

Printing firm St Ives is back in the black — thanks in part to best-sellers such as Stieg Larsson's Girl With The Dragon Tattoo series and Stephenie Meyer's Twilight books.

St Ives swung to a pre-tax profit of £8.1 million in the 12 months to July from a loss of £7.2 million a year earlier.

Chief executive Patrick Martell warned: "We are not expecting the general economic climate to improve in the next year. But early signs are book sales are resilient."

St Ives printed Tony Blair's A Journey, the fastest-selling autobiography in British publishing history, which came out in September.

About 41% of St Ives' revenues come from printing books and magazines while commercial and marketing services represent most of the remainder.

Martell said magazine publishers were "modestly" increasing the number of pages, after a big drop during the recession. But he has refused some clients because the work was "priced at sub-economic conditions".

Martell said a big growth area is personalised printing for commercial clients, who want to send unique messages to customers.

The full-year dividend rises 56% to 3.5 p in what Martell said was an optimistic sign.

Net debt has also been slashed to £2.7 million from £19 million.

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