5th Mar 2014 12:06
LONDON (Alliance News) - Printed products firm 4imprint Group PLC Wednesday reported a 45% increase in pretax profit for the full-year, reflecting a strong performance across the business.
The company, which prints logos and messages on items such as keyrings, posted pretax profit of GBP9.3 million for 2013, from GBP6.4 million, as revenue rose 16% to GBP212.9 million from GBP183.5 million in 2012.
4imprint said sales of promotional products rose to GBP196.4 million from GBP168.9 million, while revenue from delivery receipts and other income crept to GBP16.4 million, from GBP14.6 million a year earlier.
The direct marketing business saw revenue grow 16% and operating profit rise 33%, while there was, "continued organic growth" in the US, with order numbers 15% ahead of 2012.
Post the year-end, the firm sold its UK promotional product arm SPS in a deal worth GBP7.3 million. 4imprint said it is now a "pure play direct marketing business," with 96% of its revenue in North America.
Financially, net cash stood at 15.8 million, compared with GBP10.7 million. Basic earnings per share, from continuing operations increased 56% to 25.64 pence from 16.41 pence, while underlying basic earnings per share rose 42% to 35.51 pence from 25.03 pence, reflecting the increased earnings and lower underlying effective tax rate compared with 2012.
Looking ahead, the company said early indications for 2014 are of continuing good operational performance in line with "our aspirations although the dollar exchange rate will, if sustained, act as a headwind on performance measured in sterling."
The company proposed a final dividend of 11.40 pence from 10.20 pence making a final dividend of 17.00 pence up from 15.45 pence in 2012.
The stock was trading at 697.14 pence Wednesday morning, up 22.14 pence or 3.3%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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