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St Ives "open to offers"
St Ives, the book and magazine printer worth £350m, has said that it was open to offers and would consider breaking up the group, report the Times. The announcement came as St Ives reported a 25% drop in half-year profits.
Miles Emley, chairman of St Ives, said that he would “not rule out” bids and would look at any sensible offers for parts of the business after admitting that severe competitive pressures in the core magazine, brochure and catalogue business was forcing it to consider other strategies.
However, revenue from cased and paper-back books showed steady improvement, helped by the printing of JK Rowling’s bestseller Harry Potter and the Half-Blood Prince.
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