IVE Group Doubles Profit To $20.9 Million

Blank list with Australian money,calculator and pencil on a table

Print and marketing communications company IVE Group, which listed on the ASX in December last year, has exceeded its prospectus forecasts for the 2016 fiscal year, more than doubling its profit and recording double-digit revenue growth.

In a statement to shareholders, IVE announced a pro-forma net profit of $20.9 million for the 12 months to 30 June 2016 – up 117.5 per cent on FY15 and 2.9 per cent more than the group’s prospectus forecast.

IVE also recorded 13.2 per cent growth in revenue to $382 million over the 12-month period – up 0.3 per cent from its prospectus forecast – while the group’s earnings before interest, taxes, depreciation and amortisation (EBITDA) grew 38.7 per cent to $42.8 million (up 0.8 per cent on its prospectus forecast).

Geoff Selig, executive chairman of IVE, said the company was pleased to have exceeded its prospectus forecasts.

“The business continues to execute effectively on our strategy of ongoing diversification and growth through expansion into complementary products and services,” he said.

“Our 13.2 per cent increase in pro-forma revenue over FY16 reflects continued organic growth, increased revenue from our existing customer base through an expanded service offering, and contributions from acquisitions.

“Earnings have also benefitted from our capital expenditure program and closely-managed cost base, which resulted in an expanded EBITDA margin.”

Selig said the company continued to execute its “disciplined” acquisition program, “with the bolt-on acquisition and integration of four businesses, together with the acquisition of two uniquely-positioned businesses that further expanded our product and service offering”.

“Our long-term relationships with customers provide opportunities to expand further the range of value-added products and services we offer them.”

IVE told shareholders that it will continue to pursue its strategy to diversify and grow, and will invest to refine its cost base and enhance its offering.

“Recent acquisitions will be integrated and the disciplined acquisition program will continue,” the statement said.

“The company is well positioned to grow revenue and EBITDA in FY2017.”




Please login with linkedin to comment

Advertising Standards Bureau national broadcast network

Latest News

It’s Friday Quiz Time Again!
  • Media

It’s Friday Quiz Time Again!

Take B&T's trivia quiz for your chance to win a $100 booze voucher and possible cirrhosis of a major internal organ.

by B&T Magazine

B&T Magazine
Big data technology and data science illustration. Data flow concept. Querying, analysing, visualizing complex information. Neural network for artificial intelligence. Data mining. Business analytics.
  • Marketing

SenateSHJ Launches New Trans-Tasman Practices

SenateSHJ has launched a new digital, data and insights capability designed to help clients tackle the growing complexity of communication challenges. SenateSHJ Digital, Data and Insights (DDI) will combine the firm’s existing Digital and Insights functions to create a Trans-Tasman capability focused on digital communication, and the generation and use of data to improve communication. […]

New BrandStory Format From Bonzai Allows 3x More Ad Space on Mobile
  • Media

New BrandStory Format From Bonzai Allows 3x More Ad Space on Mobile

Creative technology platform Bonzai has announced the launch of BrandStory – a new premium mobile ad format. BrandStory offers triple the ad space and 2.8 times greater time in view than single scroll ad formats, addressing the surging demand from brands worldwide for more real estate to drive real results by seamlessly intertwining awareness, exploration […]

B&T’s Search For Australia’s Greatest Ad Heads To Channel 7
  • Advertising

B&T’s Search For Australia’s Greatest Ad Heads To Channel 7

B&T went through the looking glass this morning, with editor-in-chief David Hovenden (above) appearing on Channel 7’s The Morning Show to get the general public involved in our search for Australia’s Greatest Ad. Hovenden chatted with Kylie Gillies and stand-in host Matt Doran about what makes a great ad and showcasing some of our favourites […]

by B&T Magazine

B&T Magazine
Opinion: The Tall Planner’s Kate Smither On The DBA Dilemma
  • Opinion

Opinion: The Tall Planner’s Kate Smither On The DBA Dilemma

The science is not in question – smarter people than I, with far more data, have codified it. The logic is not up for grabs…it makes sense that creating mental shortcuts to your brand keeps you at the top of your mind. Lead image: Kate Smither – Owner, The Tall Planner I wouldn’t even take […]

Opinion

by B&T Magazine

B&T Magazine
African woman using a cellphone in an office alone
  • Marketing

Ortto & Tall Bob Partner To Deliver Better SMS & MMS For Australian & NZ Businesses

Two Australian-born technology providers have joined forces to bring more power and choice to marketers in Australia and New Zealand with mobile messaging that is more local, cost-effective, and integrated. It’s a partnership that sees two Australian software companies come together to deliver a world-class mobile-first solution for marketers building data-driven, personalised, omnichannel campaigns. While […]

Slew Of New Hires At Snap Inc.
  • Media

Slew Of New Hires At Snap Inc.

Snap Inc. has announced a number of new recruits. B&T unaware if it positively impacted SEEK's share price.

Reddit Gets Playful Brand Refresh
  • Technology

Reddit Gets Playful Brand Refresh

This will be of interest to any Reddit fans, graphic designers or lovers of an orange so bright it burns the retinas.

Zitcha & Broadsign Partner To Drive Global In-Store Retail Media Market
  • Advertising

Zitcha & Broadsign Partner To Drive Global In-Store Retail Media Market

Zitcha and Broadsign have teamed up to integrate the Broadsign out-of-home (OOH) advertising platform with Zitcha’s retail media platform. The collaboration empowers retailers to maximise and monetise in-store digital display networks and enables advertising partners to easily view and book available in-store inventory and review campaign performance alongside the retailer’s other media channels. With the […]

Double Rainbouu & 7-Eleven Launch Exclusive Summer Fashion Label
  • Marketing

Double Rainbouu & 7-Eleven Launch Exclusive Summer Fashion Label

Today, 7-Eleven has announced a one-of-a-kind collaboration with the popular Sydney-based anti-resort wear label Double Rainbouu. Dropping tomorrow, December 1, just in time for summer, this limited-edition capsule will infuse the fashion brand’s rebellious spirit with a distinctly iconic 7-Eleven flavour. The unisex collection features five must-have styles comprising two signature Hawaiian shirts, a peaked cap, a bucket hat […]