Timely announcement in light of the loss of the Chairman during...

Timely announcement in light of the loss of the Chairman during the period and the subsequent drifting share price.

In summary:

The Good

• "The Group’s Brand Activations and 3PL businesses are performing strongly, and catalogue and magazine (including Ovato acquired) revenues are in-line with expectations"
• "a further uplift in FY24 material gross margin and EBITDA margin relative to FY23."
• "The Group reaffirms its FY24 guidance"
• "IVE has furthered the Group’s ambition to expand its content creation offering and create a truly omnichannel value proposition, through the recent acquisition of Elastic Group, an independent creative agency employing 35 staff in NSW and Victoria."
• "IVE’s corporate uniforms business continues to demonstrate sound long term growth prospects. Recent high profile account wins include Reece, Queensland Government, and the Group is currently live-trialling IVE designed and procured uniforms for a major international food retailer with more than 100,000 employees."

The Cautious

• "an increasingly difficult economic landscape"

• "softer economic conditions have impacted data driven communication (DDC) and commercial printing revenues during the current half."