Print Published 11th Oct 2018, 00:40

Why St Ives may have wanted to forget its past: a £29m loss

Last week Marketing Services Financial Intelligence reported that a stock market listed marketing group had changed its name from St Ives to Kin and Carta in what appeared to be an attempt to obliterate its past.

Yesterday we learned why: the group incurred a loss of £29.2 million in its latest year to 3 August and it would have been much bigger but for the benefit from selling its books and sales promotion businesses at a profit of £18.3 million (see St Ives sells loss-making sales promotion businesses and St Ives collects £20m as it sheds book printing).