Marketing services and print group St Ives plc, which has a direct mail operation at Laisterdyke, Bradford, has unveiled a 15.9 per cent jump in pre-tax profits to £24.2 million in the year to July 27, compared with £20.9 million in 2011.

Underlying revenue rose by 10.3 per cent to £327.4 million, against £296.8 million the previous year.

St Ives said a strategic repositioning of the group had continued successfully and three acquisitions had boosted its marketing services offering. Cost reduction initiatives across the print businesses and investment in digital production had also been successful.

It was winning additional market share through a new multi-discipline offering, with key clients such as HSBC, Punch Taverns, Holland and Barrett and Johnston Press. Contract renewals included deals Sainsbury’s, Royal Mail and Heinz.

Chief executive Patrick Martell said: “We have made continued progress in our transformational plan to build a substantial and broadly-based marketing services offering while moving away from commoditised print, and this has resulted in a significantly improved financial performance.

“Trading conditions remain difficult, but we are in a strong financial position and will continue to invest to realise growth opportunities.”