St Ives revenue down 4% in interim results
In its interim management statement published this morning, the company said that an expected decline in print revenue of almost 10%, resulting from exiting non-profitable markets, had caused a £4.6m decline in group revenue compared to the £110m reported in same period last year. The decline in revenues was partially offset by the performance of St Ives’ marketing services, which experienced growth of 30%. Revenue and underlying profit across the marketing services division were reported to be “significantly ahead” of the equivalent period last year. The company said: “We continue to make good progress with our strategy to reposition the group and build an extended range of added value marketing services whilst exiting commoditised print markets.” It said that the figures been bolstered by the recent acquisitions of digital marketing agencies Amaze and Branded3, which the company said had integrated well and created a significant digital marketing offering that complemented and strengthened its existing capabilities. Progress and investment was reported in the development of the group’s consultancy service businesses with the relocation of retail consultancy Pragma to the group’s London head office to make room for planned growth. Additionally market research firm Incite, which was acquired in February 2012, made the division’s first move overseas with the opening of offices in Singapore and New York. Meanwhile St Ives’ exhibition and events and point of sale businesses were also reported to have performed well. In its book printing business Clays, the company said the effect of shrinking run lengths and more frequent reprints was being mitigated by implementing flexible working across the business and investing in digital technology. The group’s direct mail operation, St Ives Direct, continued to battle with a challenging market, “where excess capacity continues to exert downward pressure on prices”. The company said: “We keep the cost base of our remaining operation in Bradford under close scrutiny and will take further action to reduce costs should it become necessary.” The company said that despite ongoing investment in acquisitions and restructuring, the group’s balance sheet remained strong and underlying free cash flow continued to be robust. It added: “Whilst there is no sign of improvement from the difficult trading conditions across our print markets, our marketing services businesses are performing well, growing and combining to offer a unique and compelling customer proposition.” Share price dropped 8.5p during morning trading to 140.5p, at the time of writing....
read moreCanon launches new Océ UV flatbed range
The four new models – the Océ Arizona 640 GT, Océ Arizona 640 XT, Océ Arizona 660 GT and Océ Arizona 660 XT – all offer 25% higher production speeds than the equivalent Océ Arizona 550 series they replace. The printers feature Océ’s VariaDot technology and will be priced between £170,000 and £250,000. GT models have a standard table size of 1.25×2.5 metres, the XT printers 2.5×3.05 metres. Both formats can be can be configured with a role-to-roll option. The 660 models also offer six independent ink channels which can be used to add additional cyan and magenta inks for enhanced quality at high production speeds, or to introduce varnish and white ink for decorative applications. White ink configurations include ‘Varnish + White’ for printing white on non-white substrates, or ‘Double-Opacity White’ to achieve strong opacity in a single printing pass. Océ Arizona 640 models will be field upgradable to six-channel 660 models. Dominic Fahy, business group director of display graphics and imaging supplies at Canon UK, said that European and North American beta test users have so far been using the series for a wide range of applications. “Retail is the biggest one. But we are also seeing it used for poster printing and, because of the quality, photographic applications,” he said. He added that potential users would range from those wanting to upgrade an existing Arizona or other lower productivity flatbed printer, to screen and litho printers new to the flatbed market. Fahy reported that one Océ Arizona 600 Series model had so far been ordered by an unnamed digital retail printer in London. He said that, with the series becoming commercially available at the end of July, Canon was expecting several more on-stand orders at Fespa. “What sets this series apart is that the cost of ownership is very competitive and the quality is high,” said Fahy. “The reliability of the system is also high. Arizonas are produced in high numbers compared to competitor systems, so they are at a later stage of evolution.”...
read morePaperlinx closes technical services department
“We’ve looked at technical services, as I think a lot of other people have already, and it was felt that we could get better value support from the mills and, where necessary, third-parties,” said Paperlinx UK managing director Phil Carr. According to Carr the division was primarily focussed on testing new products for internal quality control purposes, rather than a customer support function. He added that it made sense for the company, which last month rebranded its merchanting divisions as Paperlinx, to focus on investing in services that add customer value, such as the recently launched ‘printers’ webstores’, rather those that just add costs. “Originally it was a service that Robert Horne had for a long time for when different grades and qualities of papers could be dramatically different, with different characteristics from each mill. Quality and consistency has moved on dramatically in recent years and the mills have their own technical capability themselves now,” said Carr. He added that customer’s technical questions would continue to be fielded by technical sales staff and, when needed, the mills themselves. A consultation with the technical services department was launched in early May, with the decision to close the department finalised on 10 June. Six positions were made redundant as a result of the closure. “I appreciate it’s disappointing for the staff affected, especially those that have been with us for a long time, but the world is changing and the quality and consistency of the paper we sell has improved beyond all recognition in the past 20 years,” said Carr....
read moreSt Ives revenue down 4% in interim results
In its interim management statement published this morning, the company said that an expected decline in print revenue of almost 10%, resulting from exiting non-profitable markets, had caused a £4.6m decline in group revenue compared to the £110m reported in same period last year. The decline in revenues was partially offset by the performance of St Ives’ marketing services, which experienced growth of 30%. Revenue and underlying profit across the marketing services division were reported to be “significantly ahead” of the equivalent period last year. The company said: “We continue to make good progress with our strategy to reposition the group and build an extended range of added value marketing services whilst exiting commoditised print markets.” It said that the figures been bolstered by the recent acquisitions of digital marketing agencies Amaze and Branded3, which the company said had integrated well and created a significant digital marketing offering that complemented and strengthened its existing capabilities. Progress and investment was reported in the development of the group’s consultancy service businesses with the relocation of retail consultancy Pragma to the group’s London head office to make room for planned growth. Additionally market research firm Incite, which was acquired in February 2012, made the division’s first move overseas with the opening of offices in Singapore and New York. Meanwhile St Ives’ exhibition and events and point of sale businesses were also reported to have performed well. In its book printing business Clays, the company said the effect of shrinking run lengths and more frequent reprints was being mitigated by implementing flexible working across the business and investing in digital technology. The group’s direct mail operation, St Ives Direct, continued to battle with a challenging market, “where excess capacity continues to exert downward pressure on prices”. The company said: “We keep the cost base of our remaining operation in Bradford under close scrutiny and will take further action to reduce costs should it become necessary.” The company said that despite ongoing investment in acquisitions and restructuring, the group’s balance sheet remained strong and underlying free cash flow continued to be robust. It added: “Whilst there is no sign of improvement from the difficult trading conditions across our print markets, our marketing services businesses are performing well, growing and combining to offer a unique and compelling customer proposition.” Share price dropped 8.5p during morning trading to 140.5p, at the time of writing....
read moreMPG rescue plan fails
MPG shareholders Tony Chard and Andy Simpson had been attempting to pull off a rescue of the collapsed group’s Kings Lynn and Bodmin print sites. This morning (18 June) it emerged that plan had proved unsuccessful. In a statement, chief executive Chard said: “The shareholders of MPG Printgroup have today announced that they have abandoned the possibility of a rescue plan for parts of the Group. Despite overwhelming support from the company’s employees, lenders, customers and suppliers the challenge to overcome a number of inherent issues has proved too great. “As a result all remaining employees at MPG’s plants at King’s Lynn and Bodmin are to be made redundant while steps are taken to put the company into administration which is anticipated to occur within the next week or so. It is hoped that the technologically advanced operating sites will be preserved, with opportunity given to interested parties to purchase the assets in situ. “It is a matter of deep regret that a rescue plan was not possible and the shareholders extend their thanks to all Employees for their long service and dedication over many years.” Chard told PrintWeek: “It has been a very emotional roller coaster but this pales into insignificance against the backdrop of 200 employees losing their jobs.” The group experienced a cashflow crisis last month, apparently due to over-running costs at its new Cambridge site. It had been in limbo since. Creditors including paper companies and asset finance businesses contacted by PrintWeek are yet to react to the latest turn of events. Check back for updates....
read moreMPG rescue plan fails
MPG shareholders Tony Chard and Andy Simpson had been attempting to pull off a rescue of the collapsed group’s Kings Lynn and Bodmin print sites. This morning (18 June) it emerged that plan had proved unsuccessful. In a statement, chief executive Chard said: “The shareholders of MPG Printgroup have today announced that they have abandoned the possibility of a rescue plan for parts of the Group. Despite overwhelming support from the company’s employees, lenders, customers and suppliers the challenge to overcome a number of inherent issues has proved too great. “As a result all remaining employees at MPG’s plants at King’s Lynn and Bodmin are to be made redundant while steps are taken to put the company into administration which is anticipated to occur within the next week or so. It is hoped that the technologically advanced operating sites will be preserved, with opportunity given to interested parties to purchase the assets in situ. “It is a matter of deep regret that a rescue plan was not possible and the shareholders extend their thanks to all Employees for their long service and dedication over many years.” Chard told PrintWeek: “It has been a very emotional roller coaster but this pales into insignificance against the backdrop of 200 employees losing their jobs.” The group experienced a cashflow crisis last month, apparently due to over-running costs at its new Cambridge site. It had been in limbo since. Creditors including paper companies and asset finance businesses contacted by PrintWeek are yet to react to the latest turn of events. Check back for updates....
read moreBreaking news: MPG rescue plan fails
MPG shareholders Tony Chard and Andy Simpson had been attempting to pull off a rescue of the collapsed group’s Kings Lynn and Bodmin print sites. This morning (18 June) it emerged that plan had proved unsuccessful. In a statement, chief executive Chard said: “The shareholders of MPG Printgroup have today announced that they have abandoned the possibility of a rescue plan for parts of the Group. Despite overwhelming support from the company’s employees, lenders, customers and suppliers the challenge to overcome a number of inherent issues has proved too great. “As a result all remaining employees at MPG’s plants at King’s Lynn and Bodmin are to be made redundant while steps are taken to put the company into administration which is anticipated to occur within the next week or so. It is hoped that the technologically advanced operating sites will be preserved, with opportunity given to interested parties to purchase the assets in situ. “It is a matter of deep regret that a rescue plan was not possible and the shareholders extend their thanks to all Employees for their long service and dedication over many years.” Chard told PrintWeek: “It has been a very emotional roller coaster but this pales into insignificance against the backdrop of 200 employees losing their jobs.” The group experienced a cashflow crisis last month, apparently due to over-running costs at its new Cambridge site. It had been in limbo since. Creditors including paper companies and asset finance businesses contacted by PrintWeek are yet to react to the latest turn of events. Check back for updates....
read moreBenford UV blazes export trail for British manufacturing
The Buckinghamshire manufacturer of UV curing systems said its installation in Lahore, in conjunction with UK cold-foiling systems manufacturer Foiltone, was its first in Pakistan. The five-staff firm retrofitted and commissioned an existing press with UV curing technology for leading Lahore printer, Le Topical. The company has also signed an ongoing agreement with local agent Al-Abbas, said Benford UV sales and marketing manager Ron Ryan. “The market is definitely not flat for us; we’re bucking the trend,” he said. “Turnover is four times what we achieved last year and well over half of that is from overseas work. “We hear lots of talk of British manufacturing not doing do well, but we are a British manufacturer and we are selling products around the world. We are still a small company but turnover is going up rapidly.” Ryan said the company had made three installations in the last six months and export markets included Canada, India, Malaysia and Indonesia. It recently appointed an agent in New Zealand. “Over here it’s a bit static, and if a particular market is not that vibrant we can go further afield. We can retrofit most systems including Heidelberg, Manroland, KBA and Komori; we are not tied to any one manufacturer.” Managing director Marc Boden, who oversaw the installation in Pakistan, said: “I was able to meet with the Foiltone agent Al-Abbas and was impressed by their knowledge and with their customer-base in Pakistan. “They looked like a perfect partner for us. They have worked with other European manufacturers and our products slot well into that portfolio.” Al-Abbas managing director Jawwad Husayn Jafri said: “We were able to see Benford’s quality and service first hand and had no hesitation in accepting the offer to take their excellent products to our market place.”...
read moreBenford UV blazes export trail for British manufacturing
The Buckinghamshire manufacturer of UV curing systems said its installation in Lahore, in conjunction with UK cold-foiling systems manufacturer Foiltone, was its first in Pakistan. The five-staff firm retrofitted and commissioned an existing press with UV curing technology for leading Lahore printer, Le Topical. The company has also signed an ongoing agreement with local agent Al-Abbas, said Benford UV sales and marketing manager Ron Ryan. “The market is definitely not flat for us; we’re bucking the trend,” he said. “Turnover is four times what we achieved last year and well over half of that is from overseas work. “We hear lots of talk of British manufacturing not doing do well, but we are a British manufacturer and we are selling products around the world. We are still a small company but turnover is going up rapidly.” Ryan said the company had made three installations in the last six months and export markets included Canada, India, Malaysia and Indonesia. It recently appointed an agent in New Zealand. “Over here it’s a bit static, and if a particular market is not that vibrant we can go further afield. We can retrofit most systems including Heidelberg, Manroland, KBA and Komori; we are not tied to any one manufacturer.” Managing director Marc Boden, who oversaw the installation in Pakistan, said: “I was able to meet with the Foiltone agent Al-Abbas and was impressed by their knowledge and with their customer-base in Pakistan. “They looked like a perfect partner for us. They have worked with other European manufacturers and our products slot well into that portfolio.” Al-Abbas managing director Jawwad Husayn Jafri said: “We were able to see Benford’s quality and service first hand and had no hesitation in accepting the offer to take their excellent products to our market place.”...
read moreBreaking news: MPG rescue plan fails
MPG shareholders Tony Chard and Andy Simpson had been attempting to pull off a rescue of the collapsed group’s Kings Lynn and Bodmin print sites. This morning (18 June) it emerged that plan had proved unsuccessful. In a statement, chief executive Chard said: “The shareholders of MPG Printgroup have today announced that they have abandoned the possibility of a rescue plan for parts of the Group. Despite overwhelming support from the company’s employees, lenders, customers and suppliers the challenge to overcome a number of inherent issues has proved too great. “As a result all remaining employees at MPG’s plants at King’s Lynn and Bodmin are to be made redundant while steps are taken to put the company into administration which is anticipated to occur within the next week or so. It is hoped that the technologically advanced operating sites will be preserved, with opportunity given to interested parties to purchase the assets in situ. “It is a matter of deep regret that a rescue plan was not possible and the shareholders extend their thanks to all Employees for their long service and dedication over many years.” Chard told PrintWeek: “It has been a very emotional roller coaster but this pales into insignificance against the backdrop of 200 employees losing their jobs.” The group experienced a cashflow crisis last month, apparently due to over-running costs at its new Cambridge site. It had been in limbo since. Creditors including paper companies and asset finance businesses contacted by PrintWeek are yet to react to the latest turn of events. Check back for updates....
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