4th Mar 2015 09:28
LONDON (Alliance News) - Promotional products provider 4imprint Group PLC raised its final dividend as it saw pretax profit improve in 2014 compared to 2013.
4imprint reported its figures in dollars for the first time. The company opted to switch its reporting currency as a substantial proportion of its revenue and earnings are denominated in dollars, 4imprint said.
The company proposed a final dividend of 14.25 pence, taking its total dividend of 20.45 pence, up from 17.00 pence a year before.
4imprint posted a pretax profit of USD23.3 million, up from USD14.5 million, as revenue rose to USD415.8 million from USD332.9 million. In its North American business, revenue rose to USD399.0 million from USD320.0 million, and in the UK and Ireland to USD16.8 million from USD12.9 million.
Orders from new customers increased 24% compared to 2013, the company said, due to increased investment in new customer marketing. Orders from existing customers were up 23%.
The company upped its total marketing spend by 26% during the year, which helped drive its increase in revenues, 4imprint said.
4imprint said that during the year it had taken steps to remove the risk of its legacy defined-benefit pension scheme through a buy-in with an insurance company, and during 2015 it will take further steps towards converting this into a buy-out.
"2014 was another year of good progress for the group. Even by the growth standards established in prior years, the direct marketing business, now the group's sole business, had an exceptional year. Early indications for 2015 are positive and in line with our aspirations," said Chairman John Poulter in a statement.
Shares in 4imprint are trading down 1.0% at 975.00 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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