St Ives To Rename As Kin & Carta After Exit From Printing Assets (ALLISS)

LONDON (Alliance News) - Marketing services firm St Ives PLC said Tuesday it will change its name ...

Alliance News 2 October, 2018 | 9:41AM
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LONDON (Alliance News) - Marketing services firm St Ives PLC said Tuesday it will change its name to Kin & Carta PLC following the disposal of its legacy businesses and focus on digital services.

The firm also announced it was relaunching under a new operating model called "The Connective". This, the firm explained, is a "first-of-its-kind approach" enabling seamless collaboration its differing digital and creative services.

"The launch today of Kin + Carta sets the seal on the old St Ives," Chief Executive Officer John Schwan said. "We are now a digital transformation business with a growing number of the world's leading companies as clients supported by our 1,500 technologists, strategists and creatives based in our 11 offices around the world."

Having started out as a printing business, St Ives has been disposing of its historic publishing assets for some time. In June, it sold its print management business for GBP11.0 million to Paragon Customer Communications Ltd which was the last of its non-digital units.

This followed, in May, the firm selling its Clays book printing business to major printing group Elcograf SpA for GBP20.0 million.

Schwan - the former chief digital officer at the firm - replaced former CEO Matt Armitage in August.

"Today we start on our growth journey powered by continuing organic growth and the acquisition of further breadth in our offering to clients", Schwan added.

St Ives will begin trading under the new name and ticker on Wednesday. St Ives will release its full year results next Tuesday.

Shares in St Ives were 0.9% lower at 102.00 pence on Tuesday.

By Ahren Lester; ahrenlester@alliancenews.com

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
St Ives PLC 63.00 GBX 0.00 -

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