St Ives experiences toughest market conditions in 10 years
St Ives says this year has been its toughest for more than a decade.
Full-year pre-tax profits fell to £62m, from £68.9m last year.
Turnover was up 5.3% to £498m.
Miles Emley, chairman of the printing and bookbinding company, is warning of an extremely uncertain short-term outlook.
St Ives says it has not yet been able to reap the potential of its US acquisitions, Packard Press and Global Financial Press.
Earnings per share before goodwill amortisation were down 9.7% at 41.42p.
The company's pre-tax profit figure was above the average broker forecast of £58m.
St Ives says demand for corporate financial print was subdued throughout the year, while web offset markets in the UK, US and mainland Europe all saw fierce price competition caused by flat or falling demand and recent investment in additional capacity by competitors.
It says it was forced to make a number of redundancies in both the UK and US due to the subdued demand for corporate financial print.
