St Ives slashes dividend amid tough markets

Printer St Ives posted a sharp fall in full-year underlying pre-tax profit as all its businesses were hit by tough market conditions, slashed its dividend and said outlook for the markets it supplies remained uncertain.

It declared a final dividend of 0.5p, taking the total dividend for the year to 2.25p, down 87 per cent from last year. For the 52 weeks ended 31 July, pre-tax profit from continuing operations before exceptionals fell to £7.3m from £29.5m last year. Revenue decreased 1 per cent to £391.2m.