23rd Apr 2014 10:13
LONDON (Alliance News) - Printed products firm 4imprint Group PLC Wednesday said group revenue for the first quarter rose 16% on last year, as its US divisions continued to make progress.
In an interim management statement for the period December 29 to March 28, the firm said group revenue, which now includes delivery receipts and excludes discontinued operations, stood at GBP49.2 million, compared with GBP42.5 million a year earlier.
4imprint said its UK Direct Marketing business achieved first quarter revenue growth of 21%, demonstrating growth in both new and existing customer orders, in line with its marketing spend.
The company, which prints logos and messages on items such as keyrings, said revenue for its North American operations rose 23% reflecting a strong performance in both customer acquisition and retention. Orders received from existing customers increased by 19% in the US.
Financially, the firm said it is in a "robust" position with net cash of GBP19.9 million at the period-end compared with GBP15.8 million at December 28.
"The excellent performance in the first quarter again demonstrates the strength of the business," Chairman John Poulter said in a statement.
"Notwithstanding the early point in the year and the short order to sales cycle, the indications are for a positive outcome for the year as a whole," he added.
The stock was trading at 665.10 pence Wednesday morning, up 33.60 pence or 5.3%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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