1st Aug 2023 09:51
(Alliance News) - 4imprint Group PLC on Tuesday said it had delivered a strong performance in the first six months, and expects to announce "favourable" results for both the half and full-year periods.
Shares in 4imprint were up 6.2% at 4,709.15 pence on Tuesday morning in London.
The London-based marketer and distributor of promotional products said it saw "continued encouraging results at the demand level" throughout the first half of 2023. This included an 18% increase in order intake compared with the prior year.
"We expect to announce a strong first half performance in revenue, profitability and cash," 4imprint added.
For the full year, 4imprint expects revenue to be "slightly above" USD1.3 billion, up from USD1.14 billion in 2022. It also anticipates pretax profit to be at least USD125 million, up from USD103.7 million the previous year and "materially above" analysts' current consensus.
"This favourable profitability dynamic results principally from revenue growth combined with a strengthened gross margin percentage and strong returns on marketing investment," the company explained.
Upon announcing its 2022 results in mid-March, 4imprint had said trading results were "encouraging" in the first few weeks of 2023 and that it was entering the year with momentum and confidence.
By Emma Curzon, Alliance News reporter
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